05:12 PM EDT, 09/19/2024 (MT Newswires) -- Diamondback Energy ( FANG ) launched an underwritten public offering of almost 11.3 million shares by certain selling stockholders.

The selling shareholders granted underwriters a 30-day option to buy up to an additional 1.39 million shares, the company said Thursday in a statement.

Diamondback won't get any proceeds from the sale of the shares.

The company also authorized the purchase from the underwriters of 2 million shares from the secondary offering as part of an existing buyback plan.

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