Form 4: KKR Group Entities Report Acquisition of Crescent Energy Co Class A Common Stock Through Unit Redemption

KKR Group Partnership L.P. and related entities reported the acquisition of Class A Common Stock of Crescent Energy Co through the redemption of OpCo LLC Units.

Summary

• KKR Group Partnership L.P., along with related entities including KKR Group Holdings Corp., KKR Group Co. Inc., KKR & Co. Inc., KKR Management LLP, Henry R. Kravis, and George R. Roberts, filed a Form 4 regarding transactions in Crescent Energy Co [CRGY] securities.
• The reported transaction involves the acquisition of 26,185,773 shares of Class A Common Stock through the redemption of Crescent Energy OpCo LLC Units.
• The redemption ratio is one share of Class A Common Stock for each OpCo LLC Unit redeemed, along with an equal number of shares of Class B Common Stock, which will be cancelled upon redemption.
• The OpCo LLC Units are held indirectly by Independence Energy Aggregator L.P., with KKR entities having controlling interests.
• The reporting persons disclaim beneficial ownership of the securities, except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and major shareholders, providing transparency to the market.

Stakeholder Impact

• The transaction may have a minor impact on shareholders due to the change in the number of outstanding shares, but the overall impact is likely to be minimal.

Key Dates

Keywords

Form 4, Crescent Energy Co, KKR Group, Beneficial Ownership, Class A Common Stock, OpCo LLC Units, Redemption, Securities Exchange Act, CRGY