Sable Offshore sets up $250 million stock offering program

Sable Offshore Corp (NYSE: SOC) entered into a sales agreement on February 2, 2026, with TD Securities (USA) LLC and Jefferies LLC to potentially sell up to $250 million of common stock through an at-the-market offering program.

Under the agreement, the agents may sell shares at Sable Offshore's discretion using methods permitted under Securities and Exchange Commission rules for at-the-market offerings. The company will pay the agents a commission of up to 3.0% of the gross sales price per share sold.

The arrangement operates under an effective shelf registration statement filed with the SEC in May 2025. Sable Offshore filed a prospectus supplement on February 2, 2026, in connection with the offering program.

The agents will use commercially reasonable efforts to sell shares based on instructions from Sable Offshore, including any price, time, size limits or other parameters the company may impose. The company has no obligation to sell shares under the agreement and may suspend sales at any time.

Either party may terminate the agreement with ten days' notice to the other party. The agreement includes standard representations, warranties, indemnification rights and termination provisions.

The company may also reimburse the agents for certain specified expenses related to establishing and maintaining the offering program. Sable Offshore included operational and strategic updates in the prospectus supplement filed with the SEC.

You May Also Be Interested In