05:05 PM EDT, 09/11/2024 (MT Newswires) -- Viper Energy ( VNOM ) said late Wednesday it has launched an underwritten public offering of 8.5 million Class A shares.

Underwriters will have an option to buy up to an additional 1.28 million shares, the company said.

Viper said it plans to use the net proceeds from the offering, plus cash on hand and borrowings from its revolving credit facility, to fund a portion of its pending acquisition of certain mineral and royalty-interest owning subsidiaries of Tumbleweed Royalty IV.