Diamondback Energy Inc. - 2012-10-15

Priced its initial public offering of 12.5 million shares of common stock for $17.50 per share. Net proceeds will be used to repay the outstanding borrowings under its revolving credit facility, repay the note to Gulfport Energy Corp. in connection with Gulfport's contribution of its oil and natural gas interests in the Permian Basin, repay its subordinated indebtedness owed to an affiliate of Wexford Capital LP and settle the existing crude oil swaps. Credit Suisse Securities (USA) LLC acted as book-running manager for the offering. Raymond James & Associates Inc., Tudor, Pickering, Holt & Co. Securities Inc., Wells Fargo Securities LLC, Capital One Southcoast Inc., Scotiabank/Howard Weil, Simmons & Co. International, Sterne, Agee & Leach Inc., SunTrust Robinson Humphrey Inc. and Wunderlich Securities Inc. served as co-managers.