Crescent Point Energy announces C$500M bought deal offering

Crescent Point Energy Corp. announced that it has entered into an agreement with a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets under which the Underwriters have agreed to purchase, on a bought deal basis 48.55M Crescent Point common shares at $10.30 per common share for aggregate gross proceeds of approximately C$500M. Crescent Point intends to use the net proceeds from the offering to partially fund the cash portion of the consideration payable in connection with the acquisition of Hammerhead Energy, an oil and liquids-rich Alberta Montney producer, which was announced in a separate news release issued by Crescent Point. Total consideration for the transaction is approximately C$2.55B.