Sable Offshore shares surge 20.25% intraday after announcing $250M private placement to fund operations and satisfy loan terms.

Sable Offshore Corp. (NYSE: SOC) surged 20.25% intraday after announcing a $250 million private placement of 45.45 million common shares at $5.50 per share, with proceeds intended for general corporate purposes and to satisfy a condition of its Senior Secured Term Loan amendment. The offering, led by Jefferies and TD Cowen, is expected to close on November 12, 2025, and addresses market concerns about the company’s liquidity. The move reassured investors by strengthening Sable’s balance sheet and aligning with its strategic objectives, including the resumption of operations at its California offshore oil platform. The private placement, though dilutive, signals confidence in the company’s ability to secure financing and meet regulatory obligations, directly correlating with the intraday price rally.