Diamondback Energy Inc. (FANG) announced the launch of an underwritten public offering of 5 million shares of its common stock by certain selling stockholders, subject to market and other conditions.
The underwriters will have an option to purchase up to an additional 750,000 shares of common stock from the selling stockholders.
The shares to be sold in the offering will be sold by certain entities controlled by Wexford Capital LP and by Gulfport Energy Corporation (GPOR).
The Wexford entities intend to sell 3.37 million shares and Gulfport intends to sell 1.63 million shares. All of the net proceeds will go to the selling stockholders, the company said.
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