MIDLAND, Texas, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Viper Energy, Inc. (NASDAQ:VNOM) ("Viper") announced today the pricing of an underwritten public offering of 10,000,000 shares of its Class A common stock at a price to the public of $42.50 per share (the "Primary Offering"). Viper's offering of 10,000,000 shares of Class A common stock represents a 1,500,000 share upsize to the originally proposed 8,500,000 share offering. The underwriters have a 30-day option to purchase up to an additional 1,500,000 shares of Class A common stock from Viper at the public offering price (less the underwriting discount).
Net proceeds to Viper from the sale of the 10,000,000 shares of its Class A common stock, after the underwriting discount and estimated offering expenses, will be approximately $413.7 million (or $475.9 million, if the underwriters exercise their option in full).
Viper intends to use the net proceeds from the Primary Offering, together with cash on hand and borrowings under its revolving credit facility, to fund a portion of the cash consideration for its previously announced pending acquisition of certain mineral and royalty-interest owning subsidiaries of Tumbleweed Royalty IV, LLC (the "Pending Acquisition").
The Primary Offering is expected to close on September 13, 2024, subject to customary closing conditions.
Goldman Sachs & Co. LLC, BofA Securities and Truist Securities are acting as joint book-running managers for the Primary Offering. Copies of the written base prospectus and prospectus supplement for the Primary Offering may be obtained on the website of the Securities and Exchange Commission, www.sec.gov or, when available, may ...
