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Reported Earlier, Crescent Energy Prices Secondary Public Offering Of 12M Common Stock $10.50/Share And Agreement To Repurchase Opco Units

Author: Benzinga Newsdesk | March 07, 2024 03:17am

Crescent Energy Company ("Crescent" or the "Company") (NYSE:CRGY) today announced the pricing of an underwritten public offering of 12,000,000 shares of its Class A common stock, par value $0.0001 per share ("common stock"), at a price to the public of $10.50 per share, pursuant to a registration statement on Form S-3 (the "Registration Statement") filed on March 6, 2024 with the U.S. Securities and Exchange Commission (the "SEC").

The common stock is being offered by Independence Energy Aggregator L.P. (the "Selling Stockholder"), the direct owner of the shares being offered and the entity through which certain unaffiliated limited partners and affiliated entities hold their interests in the Company and its subsidiary Crescent Energy OpCo LLC.

The Company will not sell any shares of its common stock in the offering and will not receive any proceeds therefrom. In connection with the offering, the Selling Stockholder also granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock at the public offering price, less the underwriting discounts and commissions.

Posted In: CRGY

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