Crescent Energy Co (CRGY) Form 424B3 — Oct 9, 2026
Crescent Energy priced a $1.0 billion follow-on offering of 80 million Class A shares at $12.50 per share, a ~7% discount to the $13.47 prior close, with a 12 million share greenshoe and $970 million expected net proceeds. KKR-affiliated Independence Energy Aggregator L.P. is buying 40 million shares (half the deal) at the public price, a notable insider vote of confidence. Proceeds will fund a portion of the $4,220 million all-cash acquisition of Eagle Ford assets from Devon Energy, announced October 8, 2026, with a $2.0 billion JPMorgan bridge commitment backstopping the remainder.
Key figures
- Greenshoe
- 12000000
- Total Debt
- 5166022000
- Total Assets
- 12008376000
- Cash Position
- 264882000
- Gross Proceeds
- 1000000000
- Offering Price
- 12.5
- Shares Offered
- 80000000
- Shares Outstanding
- 410456708
- Dividend
- $0.12 per share quarterly
- Reserves
- 1,127.3 MMBoe proved (after Devon EF Assets)
- Prior close
- $13.47 (October 7, 2026)
- Net proceeds
- $970.0 million
- Pv10 sec pricing
- $11.0 billion
- Bridge commitment
- $2.0 billion (JPMorgan Chase Bank, N.A.)
- Buyback remaining
- $336 million of $400 million authorization
- H1 2026 net income
- $74.5 million
- H1 2026 levered fcf
- $609.5 million
- Kkr insider purchase
- 40,000,000 shares (Independence Energy Aggregator L.P.)
- H1 2026 adjusted ebitdax
- $1,487.7 million
- Proceeds before expenses
- $972,500,000
- Devon ef acquisition price
- $4,220 million cash
- Underwriting discount per share
- 0.34375
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.