MIDLAND, Texas, Jan. 19, 2017 (GLOBE NEWSWIRE) — Viper Energy Partners LP (NASDAQ:VNOM) (“Viper”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), announced today the pricing of Viper’s upsized public offering of 8,500,000 common units representing limited partner interests. The total gross proceeds of the offering (before underwriters’ discounts and commissions and estimated offering expenses) will be approximately $131.75 million. The underwriters have a 30-day option to purchase up to an additional 1,275,000 common units from Viper.
The offering is expected to close on January 24, 2017, subject to customary closing conditions. Viper intends to use the net proceeds from the offering, including any net proceeds from the underwriters’ exercise of their option to purchase additional common units, to repay the outstanding borrowings under Viper’s revolving credit facility and for general partnership purposes, which may include additional acquisitions.
Credit Suisse, Citigroup and UBS Investment Bank are acting as joint book-running managers for the offering. When available, a copy of the final prospectus for the offering may be obtained from:
|Credit Suisse Securities (USA) LLC||Citigroup Global Markets Inc.|
|Attention: Prospectus Department||c/o Broadridge Financial Solutions|
|Eleven Madison Avenue, Level 1B||1155 Long Island Avenue|
|New York, NY 10010||Edgewood, NY 11717|
|Telephone: 1-800-221-1037||Telephone: (800) 831-9146|
|UBS Securities LLC|
|Attn: Prospectus Dept.|
|1285 Avenue of the Americas|
|New York, NY 10019|
|Telephone: (888) 827-7275|
You may also obtain a copy of the final prospectus for free by visiting the Securities and Exchange Commission website at http://www.sec.gov.
The common units will be issued and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission.