Sable Offshore shares surge 29.59% premarket after announcing $250M private placement to strengthen corporate funding and meet loan amendment terms.

Sable Offshore Corp. surged 29.59% in premarket trading following the announcement of a $250 million private placement of 45.45 million shares at $5.50 per share to institutional investors. The offering, expected to close on November 12, 2025, is intended to strengthen the company’s liquidity and satisfy the common equity contribution condition of its recently amended Senior Secured Term Loan. The capital infusion, led by Jefferies and TD Cowen as joint placement agents, addresses investor concerns about Sable’s financial stability and operational flexibility, particularly as the company advances its offshore California oil project. The unregistered shares will be resold via a future registration statement.