Underwriter
Crescent Energy
Equity Capital Markets
Secondary Offering
Transaction Details
On March 6, 2024, Crescent Energy Company (“Crescent” or the “Company”) announced the pricing of an underwritten public offering of 12,000,000 shares of its Class A common stock at a price to the public of $10.50 per share
The common stock is being offered by Independence Energy Aggregator L.P. (the “Selling Stockholder”)
- Crescent will not receive any proceeds from the sale of shares in the offering
Concurrently with the closing of the offering, the Company has agreed to purchase from the Selling Stockholder an aggregate of 2,000,000 units of Crescent Energy OpCo LLC at a price per share equal to the price at which the underwriters purchase shares of common stock in the offering, and cancel a corresponding number of shares of Crescent’s Class B common stock (the “OpCo Unit Purchase”)
- The offering is not conditioned upon the completion of the OpCo Unit Purchase, but the OpCo Unit Purchase is conditioned upon the completion of the offering
About the company
Crescent Energy Company (NYSE: CRGY) is a U.S. energy company with a portfolio of assets concentrated in Texas and the Rockies.
Sources: Company filings and press release.
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This material has been prepared solely for informative purposes as of its date of preparation. It is not a solicitation, recommendation or offer to buy or sell any security and does not provide information on which an investment decision to purchase or sell any securities could be based. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from sources that we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. No subsequent publication or distribution of this material shall mean or imply that any such information remains current at any time after the date of preparation of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.
The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link:
https://www.sec.gov/Archives/edgar/data/1866175/000162828024009434/crgy-prelim424b3march2024.htm.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.“Stephens” (the company brand name) is a leading family-owned investment firm that includes Stephens Inc. (member NYSE/SIPC), Stephens Investment Management Group, LLC, Stephens Insurance, LLC, Stephens Capital Partners LLC and Stephens Europe Limited (Registered office: 12 Arthur Street, London, EC4R 9AB, Registered number 8817024), which is authorised and regulated by the Financial Conduct Authority. © 2024 Stephens.
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