SILVERBOW RESOURCES, INC.: M&A transaction — Crescent Energy closes acquisition of SilverBow Resources; stockholders approved merger

SILVERBOW RESOURCES, INC.

SilverBow stockholders approved merger with 16,948,630 votes for, 65,372 against.
Each share converted to $38 cash (capped at $400M), 3.125 Crescent shares, or 1.866 shares + $15.31 cash.
SilverBow common stock delisted from NYSE as of July 30, 2024; deregistration filed.
Executives Woolverton, Abundis, Adam received transaction bonuses of $1M, $650k, $700k, respectively.
All outstanding debt under credit agreement and note purchase agreement repaid and terminated.

item 1.02 item 2.01 item 3.01 item 3.03 item 5.01 item 5.02 item 5.03 item 5.07 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

SILVERBOW RESOURCES, INC. underwent a change of control involving Crescent Energy Company (closed 2024-07-30).

Action: change of control
Counterparty: Crescent Energy Company
Closing: 2024-07-30

Exact text from the filing

On July 30, 2024 (the “Closing Date”), Merger Sub Inc. merged with and into SilverBow (the “Initial Merger”), with SilverBow surviving the Initial Merger as the initial surviving corporation (the “Initial Surviving Corporation”), and the Initial Surviving Corporation then merged with and into Merger Sub LLC (the “Subsequent Merger” and, together with the Initial Merger, the “Mergers”), with Merger Sub LLC surviving the Subsequent Merger (the “Subsequent Surviving Company”) as a direct, wholly-owned subsidiary of Artemis Holdings, at which time the separate corporate existence of SilverBow ended.

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Source: SEC EDGAR

accession 0001193125-24-188988

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