Sable Offshore Corp. (SOC) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 06, 2026

Risk Assessment Details

Potential Dilution: 53.91% of current shares
Recent Dilution: 116.87% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
140M
Potential Supply
77M
Additional shares possible
Splits
None
Past 2 years

Summary

SOC currently has 144M outstanding shares. with significant dilution risk as 77.5M authorized shares could dilute existing holders by 53.9%. The company has significantly diluted shareholders by 116.87% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 06, 2026

10-Q filing | 143.7M shares outstanding

140M 77M
Dec 03, 2025

S-3 filing: This is an S-3 filing for the resale of common stock by selling holders.

140M 77M
Nov 13, 2025

10-Q filing | 145.0M shares outstanding

140M 32M
May 23, 2025

8-K filing: Sable Offshore Corp. completed an underwritten offering of 10,000,000 shares of common stock at an unstated price, generating approximately $283.2 million in net proceeds. ($283.2M proceeds)

84M 32M
May 09, 2025

10-Q filing | 84.4M shares outstanding

84M 32M
Apr 22, 2025

S-3 filing: This is an S-3 filing registering an indeterminate amount of common stock, preferred stock, debt securities, warrants and units using a universal shelf registration. The total proposed amount for calculating the registration fee is $1,500,000,000.

89M 32M
Apr 17, 2025

POS AM filing: This prospectus relates to the offer and sale from time to time by the selling securityholders named in this prospectus of up to 53,920,671 shares of our Common Stock and also relates to the issuance by us of up to 8,987,062 shares of Common Stock upon the exercise of the Private Placement Warrants.

89M 32M
Apr 17, 2025

POS AM filing: The filing registers the offer and sale of up to 1,841,402 shares of common stock by selling holders.

89M 32M
Mar 17, 2025

10-K filing | 89.4M shares outstanding

89M 140M
Nov 14, 2024

10-Q filing | 89.1M shares outstanding

89M 140M
Oct 11, 2024

S-1 filing: This S-1 filing relates to the offer and sale of up to 7,500,000 shares of common stock by selling securityholders.

82M 140M
Aug 13, 2024

10-Q filing | 60.2M shares outstanding

60M 140M
May 15, 2024

10-Q filing | 60.2M shares outstanding

60M 140M
Apr 30, 2024

S-1/A filing: This S-1/A filing registers up to 25,431,370 shares of common stock issuable upon exercise of warrants, 67,188,680 shares of common stock offered by selling securityholders, 11,056,370 private placement warrants, and 1,024,900 public warrants.

65M 140M
Apr 12, 2024

S-1/A filing: This S-1/A filing registers the offer and sale from time to time by selling securityholders of up to 67,188,680 shares of common stock, up to 25,431,370 shares of common stock issuable upon exercise of warrants, 11,056,370 private placement warrants, and 1,024,900 public warrants.

60M 140M
Mar 28, 2024

10-K filing | 60.2M shares outstanding

60M 130M
Feb 14, 2024

S-1 filing: This filing relates to the offer and sale from time to time by the selling securityholders of shares of common stock and warrants, as well as the issuance of shares of common stock upon exercise of warrants.

60M 130M
Nov 14, 2023

10-Q filing | 13.3M shares outstanding

13M 32M
Aug 14, 2023

10-Q filing | 8.4M shares outstanding

8.4M 32M
May 15, 2023

10-Q filing | 8.4M shares outstanding

8.4M 32M
Mar 31, 2023

10-K filing | 8.4M shares outstanding

8.4M 32M
Nov 14, 2022

10-Q filing | 28.8M shares outstanding

29M 32M
Aug 15, 2022

10-Q filing | 28.8M shares outstanding

29M 32M
May 16, 2022

10-Q filing | 28.8M shares outstanding

29M 32M
Apr 04, 2022

10-K filing | 28.8M shares outstanding

29M 32M
Nov 22, 2021

10-Q filing | 28.8M shares outstanding

29M 32M
Aug 16, 2021

10-Q filing | 28.8M shares outstanding

29M 32M
May 28, 2021

10-Q filing | 2.2M shares outstanding

2.2M 32M
Mar 08, 2021

8-K filing: The company consummated its IPO of 28,750,000 units at a price of $10.00 per unit, generating gross proceeds of $287,500,000 and completed a private placement of 7,750,000 warrants at $1.00 per warrant for gross proceeds of $7,750,000. ($295.25M proceeds)

7.2M 32M
Mar 02, 2021

8-K filing: Flame Acquisition Corp. consummated its initial public offering of 28,750,000 units at $10.00 per unit, generating gross proceeds of $287,500,000, and completed the private sale of 7,750,000 warrants at $1.00 per warrant, generating gross proceeds of $7,750,000. ($295.25M proceeds)

7.2M 32M
Feb 22, 2021

S-1/A filing: Initial public offering of units, each consisting of one share of Class A common stock and one-half of one redeemable warrant, at a price of $10.00 per unit, for a total offering of $250,000,000.

7.2M 32M
Feb 18, 2021

S-1/A filing: Initial public offering of 25,000,000 units at $10.00 per unit, each unit consisting of one share of Class A common stock and one-half of one redeemable warrant.

7.2M 32M
Feb 05, 2021

S-1 filing: This is an initial public offering of units, each consisting of one share of Class A common stock and one-half of one redeemable warrant, of Flame Acquisition Corp., a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

7.2M 39M
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