(RTTNews) - Diamondback Energy Inc. (FANG) announced the pricing of an underwritten public offering of 11 million shares of its common stock. The Secondary Offering is being made by SGF FANG Holdings, LP, the selling stockholder. Gross proceeds from the sale will be approximately $1.9 billion.
Diamondback said it will not receive any proceeds from the transaction. The offering is expected to close on March 12, 2026, subject to customary closing conditions.
The selling stockholder has also granted the underwriters a 30-day option to purchase up to an additional 1.65 million shares of common stock, solely to cover over-allotments.
Evercore ISI, Citigroup, and J.P. Morgan are acting as joint book-running managers for the Secondary Offering.
FANG closed Wednesday's regular trading at $178.37, down $4.49 or 2.46%. In overnight trading at 10:17:15 PM EDT, the stock slipped further to $173.38, a decline of $4.99 or 2.80%.
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