Viper Energy Sets Plans for Class A Common Stock Offering
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Viper Energy Engages in New Stock Offering
Viper Energy, Inc. (NASDAQ: VNOM) has recently announced its plans to commence a public offering of Class A common stock. This initiative indicates Viper's responsiveness to prevailing market conditions and its strategic move to enhance its operational capabilities. The offering will involve 8,500,000 shares, with underwriters holding an additional option to purchase 1,275,000 shares. This structured offering is set to support Viper's critical business objectives.
Utilization of Proceeds
The proceeds from this inaugural stock offering will be directed towards financing a portion of the cash consideration required for the acquisition of specific mineral and royalty-interest subsidiaries. This anticipated acquisition is a strategic endeavor aiming to reinforce Viper's presence in the dynamic oil and gas market.
Implications of the Acquisition
Through this acquisition, Viper aims to expand its portfolio significantly. By increasing its mineral and royalty interests, the company is positioning itself to tap into enhanced revenue streams. Such strategic expansions are vital in the competitive oil and gas sector, ensuring sustained growth and stability.
Key Investors and Underwriters
Major financial institutions such as Goldman Sachs & Co. LLC, BofA Securities, and Truist Securities are acting as joint book-running managers for the stock offering. These firms bring extensive expertise and resources, further bolstering Viper's market confidence.
Registration Framework
The Class A common stock will be offered pursuant to a previously filed automatic shelf registration statement. This framework ensures compliance with regulatory requirements, facilitating a smooth offering process for investors.
About Viper Energy
Viper Energy is a prominent public entity based in Delaware, engaged in the ownership and acquisition of mineral and royalty interests primarily in the Permian Basin. The company's commitment to leveraging its resources makes it a significant player in the industry.
Investor Contact Information
For those seeking insights or questions about the offering, Viper has made investor contacts available:
Adam Lawlis can be reached at +1 432.221.7467 or via email at alawlis@diamondbackenergy.com.
Austen Gilfillian is also available at +1 432.221.7420, or through email at agilfillian@diamondbackenergy.com.
Frequently Asked Questions
What is Viper Energy's recent stock offering about?
Viper Energy is launching a public offering of 8,500,000 shares of Class A common stock to fund growth initiatives.
How will the proceeds from the offering be used?
The funds will help finance a significant acquisition of mineral and royalty-interest subsidiaries.
Who are the underwriters for the stock offering?
Goldman Sachs, BofA Securities, and Truist Securities are managing the offering.
What is Viper Energy's main business focus?
Viper Energy focuses on acquiring and managing mineral and royalty interests in oil and gas properties, primarily in the Permian Basin.
How can investors contact Viper Energy for more information?
Investors can contact Adam Lawlis or Austen Gilfillian through the provided emails and phone numbers for inquiries.
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