Sable Offshore (SOC) said late Friday that it has closed a $295 million upsized underwritten public offering of shares.

The company said it sold 10 million shares in the offering at $29.50 apiece, including 1.3 million shares purchased by underwriters under an option to buy additional shares.

Net proceeds from the offering will be used for capital expenditures, working capital and general corporate purposes, the company said.