Crescent Energy Prices Public Offering Of 21.50 Mln Shares At $14.00/shr

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(RTTNews) - Crescent Energy Co. (CRGY) announced the pricing of an underwritten, upsized public offering of 21.50 million shares of its Class A common stock, par value $0.0001 per share, at a price to the public of $14.00 per share. The offering represents a 3.50 million share upsize to the originally proposed 18 million share offering.

The company plans to use the net proceeds it receives from the offering to fund a portion of the cash consideration for its recently announced acquisition of Ridgemar (Eagle Ford) LLC, which is expected to close in the first quarter of 2025.

If the Ridgemar Acquisition is not completed, the proceeds of this offering will be used to reduce the borrowings outstanding under our revolving credit facility or for general corporate purposes.

The company has granted the underwriters a 30-day option to purchase up to an additional 3.23 million shares of Class A common stock at the public offering price, less the underwriting discounts and commissions.