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AI brief of an SEC Form 8-K · Crescent Energy (CRGY)

Crescent Energy issues $690 million of 2.75% convertible notes due 2031

Neutral Impact 3 of 5 financing Written later

On March 6, 2026, Crescent Energy issued $690 million of 2.75% convertible senior notes due March 15, 2031, including the full exercise of a $90 million underwriter option. The company plans to use about $512 million of the estimated net proceeds to redeem its 9.250% Senior Notes due 2028, and the notes could dilute shareholders if converted, though capped call transactions are expected to reduce that dilution up to a $22.48 per share cap price.

Key points

  • $690 million aggregate principal of 2.75% convertible senior notes due March 15, 2031, issued March 6, 2026, including the $90 million option exercised in full
  • Initial conversion price of about $14.89 per share, a premium of about 32.5% over the $11.24 share price on March 3, 2026
  • Capped call transactions cost about $57 million, with an initial cap price of $22.48 per share
  • About $512 million of net proceeds planned to redeem all outstanding 9.250% Senior Notes due 2028

The filing

CompanyCrescent Energy (CRGY)
Form8-K, current report
Filed with the SECMar 9, 2026, 4:05 PM ET
Accession number0001628280-26-016002

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation3.02 Unregistered Equity Sale7.01 Regulation FD Disclosure8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:00 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 March 09, 2026.

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.