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Viper Energy Announces Upsized Stock Offering for Pending Acquisition
Sep 12, 2024•almost 2 years ago
Contract Type
partnership
MidlandEnergyOil And GasDescription
Viper Energy, Inc. announced the pricing of an upsized underwritten public offering of 10,000,000 shares of its Class A common stock, with expected net proceeds of approximately $413.7 million. The company intends to utilize the proceeds, along with cash on hand and borrowings, to fund a portion of the cash consideration for its pending acquisition of certain mineral and royalty-interest owning subsidiaries of Tumbleweed Royalty IV, LLC.
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Based on industry dataStrategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months