Crescent Energy Co: announces $1.0 billion offering

What happened On Oct 8, 2026, Crescent Energy Company (NYSE: CRGY) announced that, subject to market conditions, it intended to conduct an underwritten public offering of $1.0 billion of shares of its Class A Common Stock pursuant to a Form S-3 shelf registration that became effective on Oct 8, 2026. The Company announced the pricing of the Offering for 80,000,000 shares at $12.50 per share and granted the underwriters a 30-day option to purchase up to an additional 12,000,000 shares, which option was exercised in full on Oct 9, 2026. The Company and J.P. Morgan Securities LLC, KKR Capital Markets LLC and Raymond James & Associates, Inc., as representatives of the underwriters, entered into an underwriting agreement on Oct 8, 2026. The Offering is expected to close on Oct 13, 2026.

Key details

• 80,000,000 shares priced at $12.50 per share; underwriters’ 30-day option for up to 12,000,000 additional shares exercised in full on Oct 9, 2026 (total 92,000,000 shares).
• The Company expects to receive approximately $1,115.9 million in net proceeds, inclusive of the net proceeds from the underwriters’ exercise of the option, after underwriting discounts, commissions and estimated offering expenses payable by the Company.
• Immediately following the close of the Offering, the Company will have 422,456,708 Class A shares outstanding.
• The Prospectus Supplement (to be filed on or around Oct 13, 2026) describes the material terms; net proceeds are intended to fund a portion of the cash consideration for the previously announced acquisition of certain Eagle Ford assets from Devon Energy Production Company, L.P., expected to close in the fourth quarter of 2026 or early 2027, subject to customary closing conditions, including Hart-Scott-Rodino waiting periods; pending use, proceeds will temporarily reduce borrowings under the Company’s revolving credit facility. The Offering is not contingent on completion of that acquisition; if the acquisition is not completed, proceeds will be used for general corporate purposes, including repayment of indebtedness.

Why it may matter

• Item 7.01 (Regulation FD disclosure) reports the launch and pricing of the Offering. Item 8.01 (Other events) reports the underwriting agreement and related terms, including the option exercise and expected use of proceeds. The filing does not show why the insider traded or why the company acted.