Form 4: Independence Energy Aggregator Sells 6 Million Shares of Crescent Energy Co (CRGY)

Independence Energy Aggregator L.P. sold 6,000,000 shares of Crescent Energy Co Class A Common Stock at $10.74 per share on April 1, 2024.

Summary

• On April 1, 2024, Independence Energy Aggregator L.P. converted 6,000,000 shares of Class B Common Stock and OpCo LLC Units into 6,000,000 shares of Class A Common Stock.
• The converted shares were then sold at a price of $10.74 per share.
• Following the transaction, Independence Energy Aggregator L.P. directly holds no Class A Common Stock but indirectly holds 29,134,496 shares through IE Aggregator.
• KKR Upstream Associates LLC indirectly holds 572,354 shares of Class A Common Stock.
• The filing also involves several related entities, including Independence Energy Aggregator GP LLC, KKR Financial Holdings LLC, KKR Group Assets Holdings III L.P., KKR Group Assets III GP LLC, and KKR Upstream Associates LLC.
• These entities disclaim beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a transaction. It doesn't inherently convey positive or negative sentiment, but rather reports factual information.

Industry Context

This transaction reflects ongoing trading activity by major shareholders in energy companies, which is common in the industry. The sale by Independence Energy Aggregator could be part of a broader portfolio management strategy.

Stakeholder Impact

• The sale of shares by a major holder could create short-term price volatility for shareholders.
• The transaction has no immediate impact on employees, customers, suppliers, or creditors.

Key Dates