Viper Energy (VNOM) announced the launch of an underwritten public offering of 22M shares of its Class A common stock, subject to market and other conditions. Viper intends to use the net proceeds from the offering to fund a portion of the cash consideration for its previously announced pending acquisition of all of the equity interests of certain mineral and royalty-interest owning subsidiaries of Viper’s parent, Diamondback Energy, if it closes. If it does not close, Viper will use the net proceeds from the offering for general corporate purposes. J.P. Morgan, Citigroup, Mizuho and Morgan Stanley are acting as joint book-running managers for the offering.
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