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Diamondback Energy, Inc. has reported the pricing of an underwritten public offering of 2,500,000 shares of its common stock by certain selling stockholders, of which shares 1,250,000 will be sold by certain entities controlled by Wexford Capital LP and 1,250,000 will be sold by Gulfport Energy Corporation.
The underwriter will 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 total gross proceeds of the offering (before underwriters' discounts and commissions and estimated offering expenses) will be approximately $194.3 million. All of the net proceeds from the offering will go to the selling stockholders. The underwriter has an option to purchase up to an additional 375,000 shares of common stock from the selling stockholders.
The offering is expected to close on September 23, 2014, subject to customary closing conditions.
Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering.
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