Diamondback Energy in its $2.2 billion secondary offering and stock repurchase

On September 19, 2024, Diamondback Energy, Inc. announced the upsize and pricing of an underwritten public offering of 12,770,000 shares of its common stock by certain Legacy Endeavor Stockholders. The gross proceeds from the sale of the shares by the selling stockholders will be approximately $2.2 billion. Diamondback will not receive any proceeds from the sale of the shares by the selling stockholders. In addition, Diamondback has authorized the purchase from the underwriters of 2,000,000 shares of common stock offered in the secondary offering.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Diamondback