UNDERWRITER
Crescent Energy Company
Equity Capital Markets
Follow-On Offering
Transaction Details
On December 3, 2024, Crescent Energy Company (“Crescent” or the “Company”) announced the upsizing and pricing of an underwritten public offering of 21,500,000 shares of its Class A common stock at a public offering price of $14.00 per share
- The 21,500,000 share offering represents a 3,500,000 share upsize to the originally proposed 18,000,000 share offering
- The Company also granted the underwriters a 30-day option to purchase up to an additional 3,225,000 shares of its Class A common stock
Crescent intends to use the net proceeds from the offering to fund a portion of the cash consideration for its recently announced acquisition of Ridgemar (Eagle Ford) LLC (the “Ridgemar Acquisition”), which is expected to close in the first quarter of 2025, subject to customary closing conditions and regulatory approvals
- The Ridgemar Acquisition is not contingent upon the completion of this offering and this offering is not contingent upon the completion of the Ridgemar Acquisition
- If the Ridgemar Acquisition is not completed, the proceeds of this offering will be used to reduce the borrowings outstanding under our revolving credit facility or for general corporate purposes
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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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/1866175/000162828024049780/crgy-424b3december2024.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of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.
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