Diamondback Energy Announces $1.9 Bln Secondary Share Offering

11 million-share secondary offering priced by Diamondback Energy (FANG), with SGF FANG Holdings, LP as the selling stockholder. Gross proceeds were described as approximately... (amount not provided in the article excerpt). The transaction increases share supply and may be modestly dilutive to existing shareholders, likely to move the individual stock on the order of 1-3%.

Analysis

11 million-share secondary offering priced by Diamondback Energy (FANG), with SGF FANG Holdings, LP as the selling stockholder. Gross proceeds were described as approximately... (amount not provided in the article excerpt). The transaction increases share supply and may be modestly dilutive to existing shareholders, likely to move the individual stock on the order of 1-3%.