Crescent Energy launches $1 billion Class A stock offering
CRGY•Crescent Energy launched a $1 billion public offering of Class A common stock, with proceeds targeted for the cash portion of its planned acquisition of Devon’s Eagle Ford assets.
1. Offering details
Crescent Energy launched an underwritten public offering of $1 billion of Class A common stock. Net proceeds are targeted for cash consideration in the planned acquisition of Devon’s Eagle Ford assets, which is expected to close in the fourth quarter of 2026 or early 2027; if it does not close, proceeds may be used for general corporate purposes, including repaying subsidiary debt. Underwriters are expected to have a 30-day option to buy up to $150 million of additional shares, and a KKR affiliate signaled interest in buying up to $500 million of shares on the offering terms.
