Crescent Energy prices $1.0B Class A stock offering at $12.50 per share to fund Devon Eagle Ford acquisition

Crescent Energy Co

Crescent Energy priced an underwritten public offering of 80,000,000 Class A shares at $12.50 per share, raising about $1.0 billion before the 12,000,000-share option.
Net proceeds estimated at approximately $1,115.9 million, including full exercise of the underwriters' 30-day option for 12,000,000 additional shares.
KKR affiliate Independence Energy Aggregator L.P., holder of about 7.9% of Class A stock, agreed to buy 40,000,000 shares at the public offering price.
Proceeds will fund part of the cash consideration for the Devon Energy Production Company Eagle Ford asset acquisition; Devon Energy Corporation is ticker DVN; deal expected Q4 2026 or early 2027.
Crescent expects 422,456,708 Class A shares outstanding immediately after the offering, which is scheduled to close on October 13, 2026.

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