Crescent Energy to acquire Vital Energy in all-stock merger; exchange ratio 1.9062

Crescent Energy Co

Crescent to acquire Vital in all-stock merger; each Vital share converts into 1.9062 Crescent shares.
Post-close, Crescent stockholders own ~77%, Vital stockholders own ~23% of combined company.
Crescent Board expands to 12 members; Vital designates two directors.
Termination fees: Vital pays $22.5M; Crescent pays $76.9M under specified conditions.
Certain Crescent stockholders, including Independence Energy Aggregator LP, support deal via voting agreements.

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