secwatch.observer — SEC 8-K summary
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Issuer:     Crescent Energy Co (CRGY)
CIK:        0001866175
Form:       8-K
Filed at:   2024-12-03T23:59:59+00:00
Accession:  0001628280-24-049767
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.02, 8.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crescent Energy to acquire Ridgemar for $805M cash plus shares and earn-out; launches 18M share offering
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- Cash consideration $805M (adjustable) + up to 7.27M CRGY shares + up to $170M earn-out based on WTI in 2026-27.
- Transaction expected to close Q1 2025, subject to HSR and other customary conditions.
- Launches underwritten public offering of 18M shares (plus 2.7M over-allotment option).
- Pro forma combined proved reserves 1,058.9 MMBoe as of Dec 31, 2023; SEC PV-10 of $9.4B.
- Management agreement amendment caps incremental management fee on stock/offering at $5M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1866175/000162828024049767/0001628280-24-049767-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1866175/000162828024049767/crgy-20241203.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-049767

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