Flame Acquisition Corp.
FLME-UN
New York Stock Exchange13.21
USD
+1.06
- -
CIK
0001831481
Return %
Stock
S&P500
1Y
25.33
18.21
3Y
31.84
64.38
5Y
31.44
72.43
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- James C. Flores
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 700 Milam Street Houston TX United States of America 77002
- IPO Date
- Feb 25, 2021
- CIK
- 0001831481
- Website
- flameacq.com
- Similar Companies
- Business
- Flame Acquisition Corp. (NYSE: FLME-UN) operates as a blank check company, or special purpose acquisition company (SPAC), whose primary business is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses; it focuses on opportunities in the energy industry, particularly targeting upstream exploration and production, midstream sectors, and companies developing transformative technologies for enhanced profitability in the broader energy sector. Incorporated in 2020 and headquartered in Houston, Texas, the company conducts operations principally in North America with a global investment scope. Flame Acquisition Corp. does not currently engage in significant revenue-generating operations, instead holding cash proceeds from its February 2021 initial public offering of approximately $287.5 million in trust to fund a target acquisition. In its principal transaction, Flame Acquisition Corp. completed a business combination with Sable Offshore Corp. and Sable Offshore Holdings LLC in February 2024, following stockholder approval on February 12, 2024, and closing on February 14, 2024; post-merger, the combined entity operates as Sable Offshore Corp. (NYSE: SOC), which acquired oil and gas assets including the Santa Ynez Unit from ExxonMobil using proceeds from a first-lien loan, PIPE financing exceeding $440 million (increased from initial commitments through multiple rounds up to approximately $520 million), and approximately $62.2 million remaining in trust after redemptions. Prior to closing, Flame Acquisition Corp. secured strategic extensions of its business combination deadline, including amendments approved in August 2023 and earlier votes, alongside compliance resolutions with NYSE listing requirements related to delayed SEC filings in 2021. The merger establishes Sable Offshore Corp. as an independent exploration and production entity focused on offshore assets in the US, with James C. Flores continuing as a key executive leader drawing from his extensive energy sector experience.