Form 4: Pilgrim Global ICAV Adjusts Stake in Sable Offshore Corp.

Pilgrim Global ICAV reports acquisition and disposal of Sable Offshore Corp. shares and warrants.

Summary

• Pilgrim Global ICAV acquired 1,453,374 shares of Sable Offshore Corp. common stock at $11.50 per share on October 25, 2024.
• On the same day, Pilgrim Global ICAV disposed of 1,453,374 shares of common stock.
• Following these transactions, Pilgrim Global ICAV directly owns 10,244,375 shares of Sable Offshore Corp.
• Pilgrim Global ICAV also acquired 1,453,374 warrants exercisable at $11.50, expiring on February 14, 2029.
• Pilgrim Global Advisors LLC, as the investment manager to Pilgrim Global ICAV, may be deemed to indirectly beneficially own the securities.
• Both Pilgrim Global ICAV and Pilgrim Global Advisors LLC disclaim beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing changes in ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Management Comments

• Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Industry Context

This filing reflects changes in ownership by a major shareholder, Pilgrim Global ICAV, which is relevant to investors monitoring the stock's trading activity and institutional ownership.

Stakeholder Impact

• The change in ownership may be of interest to shareholders of Sable Offshore Corp.

Key Dates