Diamondback Energy Selling Stockholder Prices 11M Shares for $1.9B
Diamondback Energy selling stockholder is offering 11 million common shares, generating approximately $1.9 billion in gross proceeds. Diamondback will not receive any proceeds, and underwriters have a 30-day option to purchase an additional 1.65 million shares with closing expected March 12.
1. Offering Details
SGF FANG Holdings, LP, a major Diamondback Energy shareholder, is conducting an underwritten secondary offering of 11 million common shares at a total gross value of about $1.9 billion.
2. Proceeds Allocation
All proceeds from the share sale will accrue to the selling stockholder, with Diamondback Energy receiving no funds from this transaction, leaving the company’s capital structure unchanged.
3. Over-Allotment Option
Underwriters—including Evercore ISI, Citigroup and J.P. Morgan—have a 30-day option to purchase up to 1.65 million additional shares to cover any over-allotments.
4. Closing Conditions
The secondary offering is set to close on March 12, 2026, subject to customary conditions including regulatory approvals and finalisation of underwriting agreements.