---
schema_version: "secwatch.filing_event.v1"
accession: "0001609253-25-000110"
form_type: "8-K"
ticker: "CRC"
cik: "0001609253"
company_name: "California Resources Corp"
filed_at: "2025-12-18T23:59:59+00:00"
generated_at: "2026-05-16T12:44:46.044527+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001609253-25-000110
- form_type: 8-K
- ticker: CRC
- cik: 0001609253
- company_name: California Resources Corp
- filed_at: 2025-12-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609253/000160925325000110/0001609253-25-000110-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609253/000160925325000110/crc-20251215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609253-25-000110
- JSON: https://secwatch.observer/filing/0001609253-25-000110.json
- Plain text: https://secwatch.observer/filing/0001609253-25-000110.txt

## Key facts
- M&A Transactions
  California Resources Corp completed an acquisition involving Berry Corporation (bry) for 0.0718 shares of CRC Common Stock per share of Berry Common Stock (closed 2025-12-18).
  - Action: acquisition
  - Counterparty: Berry Corporation (bry)
  - Consideration: 0.0718 shares of CRC Common Stock per share of Berry Common Stock
  - Closing: 2025-12-18
  source text: The Eighth Amendment became effective upon the closing of the previously announced all-stock combination (the “ Merger ”) contemplated by that certain Agreement and Plan of Merger, dated September 14, 2025 (the “ Merger Agreement ”), by and among CRC, Berry Corporation (bry), a Delaware corporation (“ Berry ”) and Dornoch Merger Sub, LLC, a Delaware limited liability company and a direct, wholly-owned subsidiary of CRC (“ Merger Sub ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609253/000160925325000110/0001609253-25-000110-index.htm
- Material Agreements
  California Resources Corp amended Eighth Amendment with Citibank, N.A., as administrative agent and collateral agent, and the banks, financial institutions and other lending institutions from time to time parties thereto (effective 2025-12-15).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Citibank, N.A., as administrative agent and collateral agent, and the banks, financial institutions and other lending institutions from time to time parties thereto
  - Effective: 2025-12-15
  source text: On December 15, 2025, California Resources Corporation, a Delaware corporation (“ CRC ”) entered into an amendment (the “ Eighth Amendment ”) to the Amended and Restated Credit Agreement, dated as of April 26, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609253/000160925325000110/0001609253-25-000110-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.