By Connor Hart
Crescent Energy has streamlined its stock structure.
All of the Houston-based energy company's shareholders now hold Class A common stock, it said Tuesday. The disclosure came after the company eliminated its umbrella partnership-C corporation structure and converted all outstanding Class B common stock into Class A common stock last Friday.
Crescent said it expects the simplified structure to increase value by reducing complexity, improving clarity of financial presentations, eliminating certain compliance and reporting costs, and enhancing accessibility for a larger pool of investors.
The simplification didn't include any transfers of ownership, the company added.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 08, 2025 16:43 ET (20:43 GMT)
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