Latham & Watkins Advises Viper Energy and Diamondback Energy on $798M Secondary Common Stock Offering

"Latham & Watkins advised Viper Energy, Inc. (VNOM) and selling stockholder Diamondback Energy, Inc. on an underwritten secondary public offering of 17,391,304 shares of Viper Class A common stock, generating roughly $798 million of gross proceeds to the selling holders (Viper will not receive proceeds). In connection with the offering, Viper agreed to buy 1,000,000 units of its operating company, VNOM Holding Company LLC, from affiliates of Oaktree at the same per‑share price. The firm’s deal team was led by partners Zach Podolsky, Nick Dhesi and Ryan Lynch, with supporting tax and disclosure counsel."