Diamondback Energy Inc. (FANG) announced the pricing of an underwritten public offering of 6.00 million shares of its common stock by certain selling stockholders at a price of $34.75 per share.
The 6 million share offering represents a 1 million share upsize to the originally proposed 5 million share offering. The underwriters have an option to purchase up to an additional 869,222 shares from the selling stockholders at the public offering price (less the underwriting discount).
The shares to be sold in the offering will be sold by certain entities controlled by Wexford Capital LP and by Gulfport Energy Corp.(GPOR). All of the net proceeds will go to the selling stockholders.
The offering is expected to close on June 24, 2013, subject to customary closing conditions.
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