Tuesday, 25 June 2024

Business News

Flame Acquisition Corp. reports holder approval of Sable business combination – TipRanks Financial Blog

Sun Communities price target lowered to $185 from $210 at Barclays

Flame Acquisition Corp., a special purpose acquisition company, announced the results for the proposals considered and voted upon by its stockholders at its special meeting on February 12, 2024. Flame reported that all of the proposals submitted to its stockholders in connection with the previously announced business combination among Flame, Sable Offshore Holdings, LLC, and Sable Offshore Corp., were approved by the requisite number of shares of Flame common stock voted at the special meeting. A Current Report on Form 8-K disclosing the full voting results will be filed with the Securities and Exchange Commission on February 12, 2024. The deadline for electing redemptions of Flame common stock has passed, and Flame will have approximately $62.2M in its trust account prior to the business combination. The closing of the business combination is expected to occur on or about February 14, 2024, subject to the satisfaction or waiver of all closing conditions. Following the closing of the business combination, the combined company will be renamed “Sable Offshore Corp.” and its common stock and public warrants are expected to begin trading on the New York Stock Exchange under the ticker symbols “SOC” and “SOC.WS,” respectively, commencing on February 15, 2024.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on FLME:

Click Here to Read the Full Original Article at TipRanks Financial Blog…