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AI brief of an SEC Form 8-K · California Resources (CRC)

CRC closes all-stock combination with Berry Corporation on December 18, 2025

Neutral Impact 4 of 5 m&a Written later

California Resources Corporation completed its all-stock merger with Berry Corporation on December 18, 2025, making Berry a wholly owned subsidiary. Berry shareholders received 0.0718 CRC shares for each Berry share, and the company said Berry's former holders received about 5.6 million CRC shares, worth roughly $253 million at CRC's December 17 closing price. The filing does not include post-merger financial results, and CRC plans to give full-year 2026 guidance with its fourth quarter 2025 earnings release.

Key points

  • Each Berry common share converted into 0.0718 CRC common shares at the Effective Time on December 18, 2025
  • Berry's former equity holders received about 5.6 million CRC shares, worth approximately $253 million based on the December 17, 2025 closing price
  • The credit agreement's aggregate elected commitments rose from $1.45 billion to $1.46 billion with an added lender
  • CRC expects to provide full-year 2026 guidance with its year-end and fourth quarter 2025 earnings release

The filing

CompanyCalifornia Resources (CRC)
Form8-K, current report
Filed with the SECDec 18, 2025, 4:35 PM ET
Accession number0001609253-25-000110

Items reported: 1.01 Material Definitive Agreement2.01 Acquisition or Disposition Completed8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 18, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.