Crescent Energy Co (CRGY): M&A transaction — Crescent closes transformative acquisition of SilverBow Resources; issues ~52M shares, $358M cash

Crescent Energy Co

Closed all-stock-and-cash merger with SilverBow on July 30, 2024, ahead of schedule.
Combined company becomes second largest Eagle Ford operator; SilverBow shareholders own ~23% on diluted basis.
Crescent issued ~52M Class A shares and paid ~$358M cash; borrowing base increased to $2.6B.
Annual synergy target of $65–$100M; ~$35M captured to date via improved cost of capital.
Board expanded to 11 directors with appointment of Marc Rowland and Michael Duginski from SilverBow.

item 1.01 item 2.01 item 2.03 item 5.02 item 5.07 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Michael Duginski

Director

CRGY · Crescent Energy Co

Effective: 2024-07-30
Filed: August 2, 2024, 7:59 PM ET

appointed Marcus C. Rowland and Michael Duginski to the Board

Appointed

Marcus C. Rowland

Director

CRGY · Crescent Energy Co

Effective: 2024-07-30
Filed: August 2, 2024, 7:59 PM ET

appointed Marcus C. Rowland and Michael Duginski to the Board

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Duginski was appointed as Director at Crescent Energy Co.

Action: appointed
Role: Director

Exact text from the filing

appointed Marcus C. Rowland and Michael Duginski to the Board

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Marcus C. Rowland was appointed as Director at Crescent Energy Co.

Action: appointed
Role: Director

Exact text from the filing

appointed Marcus C. Rowland and Michael Duginski to the Board

View on SEC.gov

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

Crescent Energy Co completed an acquisition involving SilverBow Resources, Inc. for a combination of 1.866 shares of Crescent's Class A common stock and $15.31 in cash, $38.00 in cash, or 3.125 shares of Crescent Class A common stock (closed 2024-07-30).

Action: acquisition
Counterparty: SilverBow Resources, Inc.
Consideration: a combination of 1.866 shares of Crescent's Class A common stock and $15.31 in cash, $38.00 in cash, or 3.125 shares of Crescent Class A common stock
Closing: 2024-07-30

Exact text from the filing

owned subsidiary of SilverBow ) was converted into the right to receive, at the election of the holder thereof, one of the following forms of consideration: (A) a combination of 1.866 shares of Crescent’s Class A common stock, par value $0.0001 per share (the “Crescent Class A Common Stock”) and $15.31 in cash (the “Mixed Election Consideration”), (B) $38.00 in

View on SEC.gov

24 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Crescent Energy Co filing history →

Source: SEC EDGAR

accession 0001628280-24-034424

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.