{"schema_version":"secwatch.filing_event.v1","accession":"0001609253-24-000020","form_type":"8-K","ticker":"CRC","cik":"0001609253","company_name":"California Resources Corp","filed_at":"2024-02-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:24.798924+00:00","generated_at":"2026-06-06T04:51:05.737947+00:00","sec_items":["1.01","3.02","8.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"CRC to acquire energy companies for 21.17M shares plus $500M bridge loan","bullets":["Aggregate consideration of 21,170,357 CRC common shares; additional shares for dividends declared Jan 1 to closing.","Bridge loan of $500M from Citi to refinance acquired companies' debt and pay transaction costs.","Closing conditions include CRC stockholder approval, HSR clearance, FERC authorization; no financing condition.","Post-closing, IKAV and CPP members get one board nomination each while holding ≥5% shares; standstill caps ownership at 14.9%.","Termination fee of $50M or $100M if CRC changes recommendation or pursues a superior proposal."],"urls":{"canonical":"https://secwatch.observer/filing/0001609253-24-000020","json":"https://secwatch.observer/filing/0001609253-24-000020.json","markdown":"https://secwatch.observer/filing/0001609253-24-000020.md","text":"https://secwatch.observer/filing/0001609253-24-000020.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1609253/000160925324000020/0001609253-24-000020-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1609253/000160925324000020/crc-20240207.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T04:51:05.737947+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"9d39c5c432dc9fe2427780f44bdebe304d894b97","claim":"California Resources Corp entered into Agreement and Plan of Merger with Petra Merger Sub I, LLC, Petra Merger Sub C, LLC, Petra Merger Sub O, LLC, Petra Merger Sub O2, LLC, Petra Merger Sub O3, LLC, Petra Merger Sub S, LLC, IKAV Impact USA Inc., CPPIB Vedder US Holdings LLC, Opps Xb Aera E CTB, LLC, Opps XI Aera E CTB, LLC, Green Gate COI, LLC, IKAV Impact S.a.r.l., Sim (effective 2024-02-07).","evidence_excerpt":"On February 7, 2024, California Resources Corporation, a Delaware corporation (“ Parent ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1609253/000160925324000020/0001609253-24-000020-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"Petra Merger Sub I, LLC, Petra Merger Sub C, LLC, Petra Merger Sub O, LLC, Petra Merger Sub O2, LLC, Petra Merger Sub O3, LLC, Petra Merger Sub S, LLC, IKAV Impact USA Inc., CPPIB Vedder US Holdings LLC, Opps Xb Aera E CTB, LLC, Opps XI Aera E CTB, LLC, Green Gate COI, LLC, IKAV Impact S.a.r.l., Sim"},{"label":"Effective","value":"2024-02-07"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}