SCHEDULE 13G/A: Adage Capital Management Amends Passive Stake in Sable Offshore Corp. to 3.59%
Beneficial Ownership Report
Adage Capital Management, L.P. and its affiliates have filed an amended Schedule 13G, reporting a passive beneficial ownership of 3.59% in Sable Offshore Corp. as of December 31, 2024.
Summary
- Adage Capital Management, L.P., along with Robert Atchinson and Phillip Gross, reported beneficial ownership of 3,198,166 shares of Sable Offshore Corp. common stock.
- This represents 3.59% of the company's outstanding common stock.
- The percentage is calculated based on 89,099,863 shares outstanding as of November 13, 2024, as reported in the Company's Quarterly Report for the quarter ended September 30, 2024.
- The filing is an Amendment No. 1 to a Schedule 13G.
- The Reporting Persons hold shared voting power and shared dispositive power over all 3,198,166 shares.
- The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.
Sentiment
Score: 5
Explanation: Neutral. This is a factual regulatory filing about beneficial ownership, not containing positive or negative operational or financial news about the issuer.
Positives
- A notable institutional investor, Adage Capital Management, L.P., maintains a significant, albeit passive, stake in Sable Offshore Corp., indicating continued interest.
Negatives
- The filing itself does not contain negative financial or operational information; it is purely a disclosure of beneficial ownership.
Risks
- The document does not explicitly mention risks related to Sable Offshore Corp.'s operations or financial health; it solely pertains to beneficial ownership disclosure.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's passive stake in the company.
Key Dates
| Date | Description |
|---|---|
| 2024-09-30 | End of quarter for which Sable Offshore Corp.'s shares outstanding were reported in their Quarterly Report. |
| 2024-11-13 | Date as of which 89,099,863 shares of Common Stock were reported outstanding in the Company's Quarterly Report. |
| 2024-11-14 | Date Sable Offshore Corp.'s Quarterly Report for the quarter ended September 30, 2024, was filed with the SEC. |
| 2024-12-18 | Effective date for structured data requirements applicable to Schedule 13G filings. |
| 2024-12-31 | Date of event which requires filing of this statement (beneficial ownership as of year-end). |
| 2025-02-12 | Date the Schedule 13G/A was signed by the Reporting Persons. |
Keywords
Sable Offshore Corp., Adage Capital Management, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, 78574H104
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