CRC completes all-stock merger with Berry for ~$253M in CRC shares

California Resources Corp

CRC closed all-stock merger with Berry; Berry holders received ~5.6M CRC shares valued at ~$253M based on Dec 17 close.
Combined company to be headquartered in Long Beach, led by CRC's existing management team.
CRC also amended credit agreement, increasing commitments from $1.45B to $1.46B and adding a lender.
CRC expects to provide full-year 2026 guidance with Q4/2025 earnings release.

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