Updates stock activity

** Oil and gas producer Sable Offshore's SOC.N shares sink to record low and on track for biggest daily decline ever on Tues as it seeks capital raise

** SOC shares drop as much as 54.8% on the session to $3.15, dropping below prior record intraday low of $3.72 hit on November 17, 2025

** Houston, Texas-based SOC early Tues announced public offerings of $100 mln in stock and $300 mln convertible bonds due 2031

** Co intends to use net proceeds from offerings and recently announced new term loan to fully repay its loan with Exxon Mobil XOM.N, among other purposes

** On June 22, SOC and Exxon entered into amended agreement to extend the maturity of the oil giant's loan to July 24, 2026; SOC also agreed to pay Exxon a $30 mln amendment fee

** JP Morgan sole bookrunner for the public offerings

** SOC has ~154.4 mln shares outstanding for $1.1 bln market cap through Mon

** With the decline, stock has shed about 75% this month

** Last month, a U.S. District court denied California parks department's bid to stop SOC from moving oil on a long-disputed pipeline linked to the Santa Ynez offshore platform

** Avg rating of 4 analysts is "buy"; median PT $24, per LSEG data