Diamondback Energy Inc. (Nasdaq: FANG) has announced the launch of an underwritten public offering of 2 million shares of its common stock by certain selling stockholders, subject to market and other conditions. The underwriter will have an option to purchase up to an additional 300,000 shares of common stock from certain 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 Corp. (Nasdaq: GPOR). The Wexford entities intend to sell 1,058,000 shares and Gulfport intends to sell 942,000 shares. All of the net proceeds will go to the selling stockholders.
Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering.
FANG is based in Midland, Texas.
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