Diamondback Energy Inc. (NasdaqGS: FANG) priced a public offering of 3,000,000 common shares at $62.67 each, the company said Feb. 20.
Underwriters have an option to buy an additional 450,000 shares at the same price, the company added.
Proceeds will be roughly $208.3 million with the exercised underwriters’ option, but just $181.1 million without it, the company said. They will fund pending Permian Basin acreage acquisitions in Martin County, Texas, but may also partially fund other activities and corporate purposes, Diamondback said.
The offer is scheduled to close Feb. 26, ...