Reported Earlier, Viper Energy Prices Upsized Public Offering Of 10M Class A Common Shares At $42.50/Share
Portfolio Pulse from Benzinga Newsdesk
Viper Energy has priced an upsized public offering of 10 million Class A common shares at $42.50 each, expecting net proceeds of approximately $413.7 million. The funds will be used to partially finance the acquisition of subsidiaries from Tumbleweed Royalty IV, LLC. The offering is set to close on September 13, 2024.
September 12, 2024 | 7:43 am
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Viper Energy's upsized public offering of 10 million shares at $42.50 aims to raise $413.7 million to fund an acquisition. This move could strengthen Viper's asset base and financial position.
The upsized offering indicates strong demand and provides Viper with significant capital to fund its acquisition, potentially enhancing its asset portfolio and future revenue streams. This is likely to be viewed positively by investors, leading to a short-term price increase.
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