secwatch.observer — SEC 8-K summary
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Issuer:     Crescent Energy Co (CRGY)
CIK:        0001866175
Form:       8-K
Filed at:   2024-08-02T23:59:59+00:00
Accession:  0001628280-24-034424
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 5.02, 5.07, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crescent closes transformative acquisition of SilverBow Resources; issues ~52M shares, $358M cash
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1866175/000162828024034424/0001628280-24-034424-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1866175/000162828024034424/crgy-20240729.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-034424

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer