(RTTNews) - Crescent Energy Company (CRGY) announced the pricing of a public offering of 80 million shares of its Class A common stock at $12.50 per share.

Crescent Energy plans to use the offering proceeds to help fund its acquisition of Eagle Ford oil and gas assets from a Devon Energy subsidiary. The acquisition is expected to close in the fourth quarter of 2026 or early 2027, subject to customary conditions and regulatory approvals.

Crescent Energy has given underwriters a 30-day option to purchase up to 12 million additional Class A shares at the public offering price, minus underwriting discounts and commissions.

In after-hours trading, the shares were trading 0.55 percent up at $12.73, after closing Friday's trading 2.69 percent higher, on the NYSE.