Viper Energy Announces Pricing of Secondary Common Stock Offering

Source: www.gulfoilandgas.com 3/5/2024, Location: North America

Viper Energy, Inc. (NASDAQ: VNOM) (“Viper”) announced today the pricing of an underwritten public offering of 11,500,000 shares of its Class A common stock (the “Secondary Offering”) by Viper’s parent, Diamondback Energy, Inc. (the “Secondary Stockholder”). The gross proceeds from the sale of the shares by the Selling Stockholder will be approximately $402.5 million. Viper will not receive any proceeds from the sale of the shares by the Selling Stockholder. The Secondary Offering is expected to close on March 8, 2024, subject to customary closing conditions.

The Selling Stockholder has also granted the underwriters a 30-day option to purchase up to an additional 1,725,000 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., the energy business of Perella Weinberg Partners are acting as co-managers for the Secondary Offering. Copies of the written base prospectus and prospectus supplement for the Secondary Offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, prospectus-eq_fi@jpmchase.com; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; Barclaysprospectus@broadridge.com; (888) 603-5847; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com; and Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, Attention: Prospectus Department, by telephone at (866) 471-2526 or by emailing prospectus-ny@ny.email.gs.com.

The Class A common stock will be sold pursuant to an effective automatic shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission.


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