Akin Gump Advises Diamondback Energy on $180M Share Offering

(Dallas) – Akin Gump served as counsel to Diamondback Energy, Inc. in the pricing of an underwritten public offering of two million shares of its common stock by certain selling stockholders at a price to the public of $90.04 per share. The total deal size is $180 million.

Of the shares being offered, one million were sold by certain entities controlled by Wexford Capital LP, with the other million sold by Gulfport Energy Corporation. The underwriter has an option to purchase up to an additional 300,000 shares of common stock from the selling stockholders. All of the net proceeds will go to the selling stockholders. The offering closed on June 27.

Seth Molay, a partner in Akin Gump’s corporate practice, led the team advising Diamondback. He was joined by senior counsel Irina Maistrenko and associates Benjamin Morgan and Rachel Evans.

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 850 attorneys in offices throughout the United States, Europe, Asia and the Middle East.

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