Sable Offshore shares surge 13.20% after-hours on $250M private placement to strengthen balance sheet and satisfy loan terms.

Sable Offshore Corp. (SOC) surged 13.20% in after-hours trading following the announcement of a $250 million private placement, issuing 45.45 million shares at $5.50 per share to institutional investors. The proceeds, intended for general corporate purposes, are expected to satisfy the common equity contribution condition of a recent Senior Secured Term Loan amendment. This capital raise addresses the company’s leveraged balance sheet (debt-to-equity ratio of 2.01) and provides liquidity amid challenges, including a current ratio of 0.29. The offering, priced at a slight premium to SOC’s closing price of $5.34, signals investor confidence in Sable’s ability to strengthen its financial position. Jefferies and TD Cowen are acting as placement agents, with the transaction slated to close on November 12, 2025. The market reaction suggests optimism that the funding will support operational stability and debt restructuring efforts.