Latham & Watkins Advises Diamondback Energy in US$1.9 Billion Secondary Common Stock Offering

Diamondback Energy, Inc. (Nasdaq: FANG) announced the pricing of an underwritten public offering of 11,000,000 shares of its common stock by SGF FANG Holdings, LP, Diamondback’s largest stockholder. The gross proceeds from the sale of the shares will be approximately US$1.9 billion. Diamondback will not receive any proceeds from the sale. The selling stockholder has also granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares.

Latham & Watkins LLP represents Diamondback Energy in the transaction with a corporate deal team led by New York partner Zach Podolsky and Houston partners Nick Dhesi and Ryan Lynch, with associates Chase Browndorf, Emily Brown, Paul Robe, and Luisa Yokubaitis. Houston partners Tim Fenn and Bryant Lee, with associate Molly Elkins, advised on tax matters.