Diamondback Energy (FANG) Sees 13D/A Filing Update

TL;DR

FANG 13D/A filed by ACS Capital Holdings - shareholder update.

AI Summary

On September 24, 2024, ACS Capital Holdings, LP, along with affiliated entities and individuals including Greth Lyndal and Hillary H. Holmes, filed an amendment (SC 13D/A) regarding their holdings in Diamondback Energy, Inc. The filing indicates a change in their beneficial ownership of the company's common stock.

Why It Matters

This filing signals a potential shift in significant shareholder positions or intentions, which could influence market perception and stock price movements for Diamondback Energy.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate strategic moves by significant investors, potentially impacting the stock's volatility.

Key Players & Entities

• Diamondback Energy, Inc. (company) — Subject Company
• ACS Capital Holdings, LP (company) — Filing Party
• Greth Lyndal (person) — Filing Party
• Hillary H. Holmes (person) — Authorized Contact
• ACS CAPITAL MANAGEMENT, LLC (company) — Group Member
• AUTRY STEPHENS MANAGEMENT TRUST (company) — Group Member

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Titles of Class of Securiti
• $175.1075 — the Underwriters at a purchase price of $175.1075 per share. Subject to the sale of the C

Filing Documents

• ef20036278_sc13da.htm (SC 13D/A) — 311KB
• 0001140361-24-041814.txt ( ) — 312KB

is hereby amended by adding the following

Item 4 is hereby amended by adding the following: Secondary Offering On September 19, 2024, in connection with a registered secondary public offering (the "Secondary Offering") of Company Common Stock, the Endeavor Stockholders entered into an underwriting agreement (the "Underwriting Agreement") with the Company and Evercore Group L.L.C., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, as representatives of the several underwriters named on Schedule A-1 thereto (collectively, the "Underwriters"). In connection with the Secondary Offering, which closed on September 23, 2024, the Reporting Persons sold 13,212,830 shares of Company Common Stock to the Underwriters at a purchase price of $175.1075 per share. Subject to the sale of the Company Common Stock by the Endeavor Stockholders to the Underwriters in compliance with the terms of the Underwriting Agreement, the Underwriters agreed, severally and not jointly, to sell to the Company, and the Company agreed to purchase from the Underwriters, an aggregate of 2,000,000 shares of the Company Common Stock being sold by the Endeavor Stockholders. In connection with the Secondary Offering, each of the Endeavor Stockholders entered into a lock-up letter (the "Lock-Up Letter") in the form appended to the Underwriting Agreement. Pursuant to the Lock-Up Letter, the Endeavor Stockholders agreed with the Underwriters, subject to certain exceptions, not to offer, sell, contract to sell, pledge or otherwise dispose of, directly or indirectly, any shares of Company Common Stock or securities convertible into or exchangeable or exercisable for any shares of Company Common Stock, enter into a transaction which would have the same effect, enter into any swap, hedge or other arrangement that transfers, in whole or in part, any of the economic consequences of ownership of the shares of Company Common Stock, whether any such aforementioned transaction is to be settled by delivery of the shares of Company Common Stock or

is hereby amended by adding the following

Item 6 is hereby amended by adding the following: The descriptions of the Underwriting Agreement and Lock-Up Letter included in Item 4 above are incorporated by reference into this Item 6. Item 7. Materials to be Filed as Exhibits.

is hereby amended by adding the following

Item 7 is hereby amended by adding the following: Exhibit Number Description 99.6 Underwriting Agreement, dated as of September 19, 2024, by and among the Endeavor Stockholders, the Company and Evercore Group L.L.C., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, as representatives of the several underwriters named on Schedule A-1 thereto, including the form of Lock-Up Letter attached as an exhibit thereto. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: September 23, 2024 AUTRY STEPHENS MANAGEMENT TRUST /s/ Lyndal Stephens Greth Name: Lyndal Stephens Greth Title: Trustee ACS CAPITAL MANAGEMENT, LLC /s/ Lyndal Stephens Greth Name: Lyndal Stephens Greth Title: Manager ACS CAPITAL HOLDINGS, LP By: ACS Capital Management, LLC, its general partner /s/ Lyndal Stephens Greth Name: Lyndal Stephens Greth Title: Manager ENDEAVOR MANAGER, LLC /s/ Lyndal Stephens Greth Name: Lyndal Stephens Greth Title: Chairman of the Board of Managers STEPHENS FAMILY TRUST /s/ Lyndal Stephens Greth Name: Lyndal Stephens Greth Title: Trustee STEPHENS FAMILY TRUST #2 /s/ Lyndal Stephens Greth Name: Lyndal Stephens Greth Title: Trustee SFT MANAGEMENT, LLC /s/ Lyndal Stephens Greth Name: Lyndal Stephens Greth Title: Manager SFT 1 HOLDINGS, LLC By: SFT Management, LLC, its manager /s/ Lyndal Stephens Greth Name: Lyndal Stephens Greth Title: Manager SFT 2 HOLDINGS, LLC By: SFT Management, LLC, its manager /s/ Lyndal Stephens Greth Name: Lyndal Stephens Greth Title: Manager LYNDAL STEPHENS GRETH /s/ Lyndal Stephens Greth