Diamondback Energy Announces Pricing of Secondary Common Stock Offering by Certain Stockholders
August 09 2017 - 8:13PM
Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”) announced
today the pricing of an underwritten public offering of 3,000,000
shares of its common stock by certain selling stockholders. The
underwriter intends to offer the shares from time to time for sale
in one or more transactions on the NASDAQ Global Select Market, in
the over-the-counter market, through negotiated transactions or
otherwise at market prices prevailing at the time of sale, at
prices related to prevailing market prices or at negotiated prices.
The gross proceeds from the sale of the shares by the
selling stockholders will be approximately $277.8 million.
Diamondback will not receive any proceeds for the sale of the
shares by the selling stockholders. The underwriter has a
30-day option to purchase up to an additional 450,000 shares of
common stock from the selling stockholders.
Credit Suisse Securities (USA) LLC is acting as sole
book-running manager for the offering. When available, copies of
the written prospectus for the offering may be obtained from Credit
Suisse Securities (USA) LLC, Prospectus Department
(1-800-221-1037), at One Madison Avenue, New York, New York 10010
or by email at newyork.prospectus@credit-suisse.com.
The 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.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or jurisdiction. This offering may only be made by means of a
prospectus supplement and related base prospectus.
About Diamondback Energy, Inc.
Diamondback is an independent oil and natural gas company
headquartered in Midland, Texas focused on the acquisition,
development, exploration and exploitation of unconventional,
onshore oil and natural gas reserves in the Permian Basin in West
Texas. Diamondback’s activities are primarily focused on the
horizontal exploitation of multiple intervals within the Wolfcamp,
Spraberry, Clearfork, Bone Spring and Cline formations.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. All statements, other
than historical facts, that address activities that Diamondback
assumes, plans, expects, believes, intends or anticipates (and
other similar expressions) will, should or may occur in the future
are forward-looking statements. The forward-looking statements are
based on management’s current beliefs, based on currently available
information, as to the outcome and timing of future events. These
forward-looking statements involve certain risks and uncertainties
that could cause the results to differ materially from those
expected by the management of Diamondback. Information concerning
these risks and other factors can be found in Diamondback’s filings
with the Securities and Exchange Commission, including its Forms
10-K, 10-Q and 8-K and any amendments thereto, which can be
obtained free of charge on the Securities and Exchange Commission’s
website at http://www.sec.gov. Diamondback undertakes no obligation
to update or revise any forward-looking statement.
Investor Contact:
Adam Lawlis
+1 432.221.7467
alawlis@diamondbackenergy.com
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