06:39 AM EDT, 09/12/2024 (MT Newswires) -- Viper Energy ( VNOM ) said late Wednesday it has priced an underwritten public offering of 10 million of its class A common shares at $42.50 apiece, upsizing it from its initial 8.5 million stock offering.

Underwriters have a 30-day option to buy up to an additional 1.5 million shares, the company added.

The firm expects roughly $413.7 million in net proceeds, which it intends to use, plus cash on hand and borrowings from its revolving credit facility, to finance a part of its pending acquisition of certain mineral and royalty-interest owning subsidiaries of Tumbleweed Royalty IV.

The offering is expected to close on Friday.

Viper Energy's ( VNOM ) stock fell 5.5% in recent Thursday premarket activity.

Price: 42.66, Change: -2.47, Percent Change: -5.47