Crescent Energy Announces Pricing Of Secondary Offering Of 12 Mln Shares At $10.50/shr

(RTTNews) - Crescent Energy Co. (CRGY) announced the pricing of an underwritten public offering of 12 million shares of its Class A common stock, par value $0.0001 per share, at a price to the public of $10.50 per share. The common stock is being offered by Independence Energy Aggregator L.P.

Crescent Energy said it 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 1.80 million shares of common stock at the public offering price, less the underwriting discounts and commissions.

The offering is expected to close on March 11, 2024.

Crescent Energy has agreed to purchase from the Selling Stockholder an aggregate of 2 million units of Crescent Energy OpCo LLC at a price per share equal to the price per share at which the underwriters purchase shares of common stock in the offering and cancel a corresponding number of shares of the Company's Class B common stock, par value $0.0001 per share.

CRGY closed Wednesday's regular trading at $11.28 down $0.65 or 5.45%. In the after-hours trading, the stock further dropped $0.07 or 0.62%.