Crescent Energy announces offering of 10M shares of Class A stock

Crescent Energy Company announced the commencement of an underwritten public offering of 10M shares of its Class A common stock. The company intends to use the net proceeds it receives from the offering to fund a portion of the purchase price for the recently announced acquisition of certain interests in oil and gas properties, rights and related assets primarily located in Dimmit and Webb Counties, Texas, which is expected to close in September, subject to customary closing conditions. The acquisition is not contingent upon the completion of this offering, and this offering is not contingent upon the completion of the acquisition. If the acquisition is not completed, proceeds of this offering will be used for general corporate purposes. Wells Fargo Securities, KKR Capital Markets, Evercore Group and Raymond James & Associates are serving as joint book-running managers for the offering.