Crescent Energy Announces Secondary Offering

By Bobby Samwell • Monday, March 11 15:29 • Permanent Link

Crescent Energy Company (NYSE: CRGY) has announced a secondary public offering of 12,000,000 shares of its class A common stock, with the selling stockholder, Independence Energy Aggregator L.P., offering the shares to the public. The underwriters have been granted a 30-day option to purchase up to an additional 1,800,000 shares of common stock.

Simultaneously, Crescent Energy Company intends to repurchase 2,000,000 units of Crescent Energy Opco LLC (OPCO units) from the selling stockholder at a price per share equal to the price per share at which the underwriters purchase shares of common stock in the offering. This repurchase will result in the cancellation of a corresponding number of shares of the company’s class B common stock.

Check out the company's full 8-K submission here.

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