Crescent Energy Prices Common Stock Offering at $12.50 per Share

MT newswire2026/10/09 07:47

03:47 AM EDT, 10/09/2026 (MT Newswires) -- Crescent Energy (CRGY) has priced an underwritten, public offering of 80 million shares of class A common stock at $12.50 each. Underwriters have been granted a 30-day option to purchase up to 12 million additional shares. Net proceeds from the offering to partially fund its recently announced acquisition of certain Eagle Ford oil and gas assets from Devon (DVN), which is set to close in Q4 or early 2027. However, the offering is not contingent upon the Devon acquisition and if that purchase is not completed, offering proceeds will be used for general corporate purposes, including debt repayment, the company said. Meanwhile, Independence Energy Aggregator, an entity affiliated with KKR (KKR), and a holder of 7.9% Crescent Energy's class A common shares, has agreed to purchase 40 million shares of the new offering.

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