MIDLAND, Texas - Diamondback (NASDAQ:FANG) Energy, Inc., the parent company of Viper Energy Inc. (NASDAQ: NASDAQ:VNOM), has initiated an underwritten public offering of 11.5 million shares of Viper's Class A common stock, according to an announcement made today. The offering is contingent on market conditions and other factors.
Viper Energy itself will not benefit financially from this transaction, as all proceeds will go to Diamondback Energy. Furthermore, the underwriters have been given a 30-day option to purchase up to an additional 1.725 million shares of Viper's Class A common stock.
J.P. Morgan, Barclays, Evercore ISI, and Goldman Sachs & Co (NYSE:GS). LLC are serving as joint book-running managers for the offering. The shares will be offered under an already effective automatic shelf registration statement filed with the Securities and Exchange Commission (SEC).
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities, and there will be no sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be illegal before registration or qualification under the securities laws of that state or jurisdiction.
Viper Energy is a Delaware corporation that specializes in owning and acquiring mineral and royalty interests in oil and natural gas properties, primarily in the Permian Basin.
The company's press release also included forward-looking statements concerning the completion of the offering, Viper's strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans, and objectives of management. These statements are subject to risks and uncertainties, and actual results could differ materially from those anticipated.
Investors are cautioned to consider the risks detailed in Viper's filings with the SEC, including the prospectus and prospectus supplement related to the offering, its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and its periodic filings, which may be updated from time to time.
This article is based on a press release statement from Viper Energy, Inc.
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