Akin Gump Advises Diamondback Energy on $175.6 Million Equity Offering

(Dallas) – Akin Gump advised Diamondback Energy, Inc. in an underwritten public offering of 2.5 million shares of its common stock, 500,000 shares more than originally proposed.

The total gross proceeds of the offering (before underwriter discounts and commissions and estimated offering expenses) will be approximately $175.6 million, and the underwriter has a 30-day option to purchase up to an additional 375,000 shares of common stock. The offering is expected to close on August 18, subject to customary closing conditions.

Seth Molay, a partner in Akin Gump’s corporate practice, led the team advising Diamondback with the assistance of senior counsel Irina Maistrenko and associates Rachel Evans and Lech Wilkiewicz.

Akin Gump has now advised Diamondback in three common stock offerings during 2015, the most such offerings by any U.S. exploration and production company this year.

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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