Diamondback Energy Amends Viper Energy Stake Filing

TL;DR

DBK filed an update on its Viper Energy stake. No major changes detailed here, but watch for future moves.

AI Summary

Diamondback Energy, Inc. filed an amendment (No. 2) to its Schedule 13D on March 8, 2024, regarding its ownership of Viper Energy, Inc. The filing indicates a change in the reporting person's beneficial ownership, though specific new percentages or dollar amounts are not detailed in this excerpt. Diamondback Energy, Inc. is the filer, and Viper Energy, Inc. is the subject company.

Why It Matters

This filing updates information regarding Diamondback Energy's significant stake in Viper Energy, potentially signaling strategic shifts or ongoing integration efforts following Diamondback's acquisition of Pioneer Natural Resources.

Risk Assessment

Risk Level: medium — The filing relates to a significant ownership stake in a publicly traded company, which can indicate potential strategic actions or market influence.

Key Players & Entities

• Diamondback Energy, Inc. (company) — Filer and reporting person
• Viper Energy, Inc. (company) — Subject company
• Pioneer Natural Resources (company) — Mentioned in context of Diamondback's acquisition

FAQ

Key Financial Figures

• $0.000001 — (Name of Issuer) Class A Common Stock, $0.000001 Par Value (Title of Class of Securitie
• $34.125 — ds, before expenses, to Diamondback was $34.125 per share of Class A Common Stock. Ite

Filing Documents

• form_sc13da-viper.htm (SC 13D/A) — 66KB
• 0001011438-24-000282.txt ( ) — 68KB

Purpose of

Item 4. Purpose of the Transaction

of this Schedule 13D is supplemented and superseded, as the case may be, as follows

Item 4 of this Schedule 13D is supplemented and superseded, as the case may be, as follows: Secondary Offering of Class A Common Stock by Diamondback The previously disclosed underwritten secondary public offering of (i) 7,946,507 shares of Class A Common Stock currently held by Diamondback and (ii) 3,553,493 shares of Class A Common Stock to be received by Diamondback upon exchange, pursuant to the terms of the Amended and Restated Exchange Agreement, of an equal number of shares of Class B Common Stock and an equal number of OpCo Units closed on March 8, 2024. In addition, the underwriters exercised their overallotment option in full, resulting in the sale of an additional 1,725,000 shares of Class A Common Stock on March 8, 2024 received by Diamondback upon exchange, pursuant to the terms of the Amended and Restated Exchange Agreement, of an equal number of shares of Class B Common Stock and an equal number of OpCo Units (the closing of both transactions on March 8, 2024 the " March 2024 Closing "). The proceeds, before expenses, to Diamondback was $34.125 per share of Class A Common Stock.

Interest in Securities of the

Item 5. Interest in Securities of the Issuer

of the Schedule 13D is hereby amended and restated as follows

Item 5 of the Schedule 13D is hereby amended and restated as follows. Diamondback (a)-(b) The aggregate number and percentage of Class A Common Stock beneficially owned following the March 2024 Closing by Diamondback (on the basis of the number of shares of Class A Common Stock outstanding (86,144,273 shares of Class A Common Stock) as of February 16, 2024, as reported in the Issuer's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 22, 2024, plus the number of shares of Class B Common Stock and OpCo Units that have been converted into Class A Common Stock as a result of the March 2024 Closing: a) Amount beneficially owned: 85,431,453 (1) Percentage: 48.3% b) Number of shares to which Diamondback has: i. Sole power to vote or to direct the vote: 85,431,453 (1) ii. Shared power to vote or to direct the vote: 0 iii. Sole power to dispose or to direct the disposition of: 85,431,453 (1) iv. Shared power to dispose or to direct the disposition of: 0 (1) Includes 77,364,925 Class B Units and 77,364,925 OpCo Units held by Diamondback, and 8,066,528 Class B Units and 8,066,528 OpCo Units held by Diamondback's wholly owned subsidiary, Diamondback E&P. Diamondback and its subsidiary will have the right to exchange their shares of Class B Common Stock and an equal number of OpCo Units on a one-for-one basis for shares of Class A Common Stock. Diamondback E&P (a)-(b) The aggregate number and percentage of Class A Common Stock beneficially owned following the March 2024 Closing by Diamondback (on the basis of the number of shares of Class A Common Stock outstanding (86,144,273 shares of Class A Common Stock) as of February 16, 2024, as reported in the Issuer's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 22, 2024, plus the number of shares of Class B Common Stock and OpCo Units that have been converted into Class A Common Stock as a result of the March 2024 Closing: Listed

View Full Filing

View this SC 13D/A filing on SEC EDGAR