Viper will not receive any of the gross proceeds from the sale of the secondary offering, which will amount to $402.5 million. (Source: Shutterstock/ Viper Energy Inc.)
Viper Energy Inc. announced the pricing of a secondary underwritten public offering of approximately 11.5 million shares of its Class A common stock being sold by its parent company Diamondback Energy Inc., Viper announced in a March 5 press release.
Viper will not receive any of the gross proceeds from the sale of the secondary offering, which will amount to $402.5 million. The secondary offering is expected to close on March 5, subject to customary closing conditions.
Diamondback granted the underwriters a 30-day option to purchase an additional 1.73 million shares of Viper's Class A common stock.
J.P. Morgan, Barclays, Evercore ISI and Goldman Sachs & Co. LLC are acting as joint book-running managers for the secondary offering.
BofA Securities, Capital One Securities, Comerica Securities, Pickering Energy Partners, Piper Sandler, PNC Capital Markets LLC, Raymond James, Roth Capital Partners, Scotiabank, Stifel and TPH&Co. are acting as co-managers of the secondary offering.
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