Diamondback Energy Inc. announced the commencement of its initial public offering of 12,500,000 shares of its common stock at an anticipated initial public offering price of between $17.00 and $19.00 per share.
In addition, the underwriters have a 30-day option to purchase from Diamondback Energy up to an additional 1,875,000 shares of common stock, at the same price per share. Diamondback Energy will list its common stock on the NASDAQ global market under the symbol "FANG."
Credit Suisse Securities (USA) LLC will act as book-running manager for the proposed offering. Raymond James & Associates Inc., Tudor, Pickering, Holt & Co. Securities Inc., Wells Fargo Securities LLC, Capital One Southcoast Inc., Howard Weil Incorporated, Simmons & Company International, Sterne, Agee & Leach Inc., SunTrust Robinson Humphrey Inc. and Wunderlich Securities Inc. are serving as co-managers.
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