Crescent Energy announces $400M convertible notes offering to redeem 9.25% senior notes due 2028

Crescent Energy Co

$400M convertible senior notes due 2031 offered privately; underwriters can purchase up to additional $60M.
Proceeds plus revolver borrowings will redeem all outstanding 9.250% Senior Notes due 2028, conditional on closing.
Capped call transactions entered to reduce potential dilution upon conversion of the notes.
Derivative portfolio notional value of $3.3B as of Jan 31, 2026; hedging positions for crude oil and natural gas disclosed.
Unaudited pro forma statement of operations for FY 2025 reflects the Vital Energy Merger and Ridgemar Acquisition.

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