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Flame Acquisition Corp. reported that stockholders approved a proposal to extend the deadline for completing a business combination during a special meeting on February 27, 2023. The necessary number of shares voted in favor of the amendment to the amended and restated certificate of incorporation. A detailed report of the voting results will be filed with the SEC on March 1, 2023. Flame, a blank check company, aims to merge with one or multiple businesses in North America. The proposed merger involves Sable Offshore Holdings LLC, with further information available in the filed proxy statements.
Flame Acquisition Corp. (NYSE: FLME) has announced a business combination with Sable Offshore Corp., which includes the acquisition of oil and gas assets. Upon completion, the combined entity will operate under the Sable Offshore Corp. name. In preparation for this merger, Flame will file a Proxy Statement with the SEC, containing essential details for stockholders regarding the transaction. Investors are encouraged to review this document once available to understand the implications of the merger on their investments.
Flame Acquisition Corp. announced compliance with NYSE regulations on May 28, 2021, after filing its Quarterly Report on Form 10-Q for Q1 2021 with the SEC. The compliance followed an earlier notice from the NYSE on May 25, 2021, due to a delayed filing linked to accounting considerations for warrants by SPACs. The NYSE confirmed the regained compliance, which had no immediate impact on the company's stock listing. Flame Acquisition Corp. aims for business combinations in the North American energy industry.
Flame Acquisition Corp. has announced that starting April 19, 2021, holders of Units from its initial public offering can trade Class A common stock and warrants separately. These will trade on the NYSE under the symbols FLME and FLME.WS, while non-separated Units will trade as FLME.U. The offering was initially underwritten with Cowen and Intrepid Partners as joint book-running managers. A registration statement was effective on February 24, 2021.
Flame Acquisition Corp. successfully closed its initial public offering (IPO) of 28,750,000 units at $10.00 per unit, raising gross proceeds of $287.5 million. The units, comprising one share of Class A common stock and one-half of a redeemable warrant, began trading on the NYSE under ticker symbol FLME.U on February 25, 2021. Full units were offered after the underwriters exercised their over-allotment options. The shares and warrants are expected to trade separately as FLME and FLME.WS, respectively. The registration statement for this offering became effective on February 24, 2021.
