[8-K] Crescent Energy Company Reports Material Event

Rhea-AI Filing Summary

WhiteHorse Finance, Inc. (WHF) filed a DEFA14A to update the “Principal Accountant Fees and Services” table in its 2025 proxy materials. The only change is the inclusion of 2024 audit-related figures for Crowe LLP, the Company’s independent public accounting firm.

• Audit Fees (2024): $565 thousand, up from $470 thousand in 2023, reflecting the cost of Crowe’s attestation of internal controls over financial reporting.
• Total Accounting Fees (2024): $595 thousand versus $540 thousand in 2023, a 10% increase.
• Audit-Related Fees and Tax Fees remained nil for both years; “All Other Fees” fell to $30 thousand from $70 thousand.

No other proxy disclosures or shareholder proposals were altered. The Board unanimously reiterates its recommendation to vote “FOR” the ratification of Crowe LLP as auditor for the fiscal year ending 31 December 2025. The virtual Annual Meeting is scheduled for 30 July 2025, and previously cast votes remain valid; shareholders are encouraged to vote electronically to minimize processing costs.

Positive

• Improved transparency: Management proactively updated shareholders with the latest 2024 audit-fee data before the Annual Meeting.
• Board continuity and confidence: Directors unanimously support retaining Crowe LLP, signaling stability in financial reporting oversight.

Negative

• Audit fees climbed ~20%: Audit expenses increased by $95K year-over-year, modestly raising administrative costs.
• Incremental cost pressure: Although small, higher professional fees marginally dilute operating efficiency.

Insights

Corporate Governance Expert

TL;DR: Routine proxy update; audit fee table revised, proposals unchanged—neutral impact.

This amendment only refreshes fee data, lifting 2024 audit costs to $565 K after Crowe LLP’s SOX internal-control attestation. Governance structure, agenda items, and voting recommendations are unaffected. With no auditor change or indication of reporting issues, investor impact is negligible.

Financial Analyst

TL;DR: $55K rise in total accounting fees is immaterial to WHF’s earnings profile.

Total fees rose 10% year-over-year, but the extra $55 K is trivial relative to WhiteHorse Finance’s multi-million-dollar net investment income. Dividend capacity, leverage metrics, and valuation drivers remain intact. The filing is informational and should not influence investment decisions.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): July 10, 2025

Crescent Energy Company
(Exact Name of Registrant as Specified in its Charter)
Delaware			001-41132			87-1133610
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(I.R.S. Employer Identification No.)
600 Travis Street, Suite 7200 Houston, Texas						77002
(Address of Principal Executive Offices)						(Zip Code)
(713) 332-7001
Registrant’s Telephone Number, Including Area Code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Class A Common Stock, par value $0.0001 per share			CRGY			The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

Hedge Settlements

For the three and six months ended June 30, 2025, Crescent Energy Company (the “Company” or “Crescent”) expects to report approximately $37 million and $44 million, respectively, of total cash received from its hedge positions, composed of the following:

			Three Months Ended June 30, 2025						Six Months Ended June 30, 2025
			(in millions)
Net cash (paid) received on settlement of derivatives			$	20					$	9
Settlement of acquired derivative contracts(1)			17						35
Total cash (paid) received(2)			$	37					$	44

The dollar amounts included in this Current Report on Form 8-K are preliminary and subject to change. Such amounts as disclosed herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements are based on current expectations but remain subject to a number of assumptions, risks and uncertainties. Consequently, actual final results could differ materially from current expectations. Final dollar amounts for the three and six months ended June 30, 2025 will be reported in Crescent’s Quarterly Report on Form 10-Q for the period ended June 30, 2025.

The information in this Item 2.02 shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and is not incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act.

(1)     Represents the settlement of certain oil, gas, and natural gas liquids derivative contracts acquired in connection with the SilverBow Merger. The Company expects to report these settlements as positive adjustments on the Statements of Cash Flows and as additions to Adjusted EBITDAX.

(2)     Represents total cash (paid) received from hedge settlements and is reflected in Adjusted EBITDAX.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 10, 2025

CRESCENT ENERGY COMPANY

By:    /s/ Brandi Kendall    

Name:    Brandi Kendall

Title:    Chief Financial Officer

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FAQ

What are WhiteHorse Finance’s 2024 audit fees disclosed in the DEFA14A?

The filing lists $565 thousand in audit fees for 2024.

How much did total accounting fees change from 2023 to 2024 for WHF?

Total fees rose from $540 thousand in 2023 to $595 thousand in 2024, a 10% increase.

Does the WHF board still recommend ratifying Crowe LLP as auditor for 2025?

Yes, the board unanimously recommends voting “FOR” Crowe LLP’s ratification.

When is WhiteHorse Finance’s 2025 Annual Meeting of Stockholders?

The virtual meeting is scheduled for July 30, 2025.

Do shareholders need to recast their votes because of this proxy amendment?

No. Votes already submitted remain valid; no further action is required unless a shareholder wishes to change their vote.