Sable Offshore shares surge 23.60% premarket after announcing $250 million private placement to fund loan amendment and stabilize operations.

Sable Offshore (SOC) surged 23.6% in premarket trading following the announcement of a $250 million private placement of 45.5 million shares at $5.50 per share. The offering, led by Jefferies and TD Cowen, is expected to close on November 12, 2025, and will satisfy the equity contribution condition for a recent senior secured term loan amendment. The capital raise addresses liquidity concerns, with proceeds designated for general corporate purposes, and signals progress in restructuring efforts. While the company faces legal challenges and high debt, the immediate market reaction reflects optimism about improved financial stability and alignment with loan covenants. The premarket rally aligns with prior short-term spikes tied to strategic updates, though long-term risks such as operational delays and regulatory hurdles remain unresolved.