04:29 AM EST, 12/04/2024 (MT Newswires) -- Crescent Energy ( CRGY ) said late Tuesday it has priced an upsized public offering of 21.5 million shares at $14 per share.

The offering was increased from an originally proposed 18 million shares, the company said.

The company also granted the underwriters a 30-day option to purchase up to 3.2 million additional shares.

Crescent said it intends to use the net proceeds as part of the cash payment for its acquisition of Ridgemar, which is expected to close in Q1.