Finance History | Nasdaq MarketSite — Seventeen Fifty for Twelve and a Half Million Permian Shares
· 2012-10
Unreviewed contributionBy kevin · · Report an issue
Find memories left by people near you.
Distribute Bounty
This will distribute the bounty equally among all qualifying memories. This action cannot be undone.
Cancel Bounty
Are you sure you want to cancel this bounty? The remaining amount will be refunded to your account.
Success!
Operation completed successfully.
Error
Something went wrong.
Finance History | Nasdaq MarketSite — Seventeen Fifty for Twelve and a Half Million Permian Shares
kevin
People treat Diamondback Energy as a Midland producer that always printed FANG on a mature Permian book.
The 2012 issuer was a five-year-old exploration company still paying down field debt.
A company release dated 12 October 2012 priced 12,500,000 common shares at 17.50 dollars a share. The underwriters received a thirty-day option on 1,875,000 more. Trading was set to open that day on the Nasdaq Global Select Market under FANG.
Net proceeds after discounts and estimated expenses were put at about 204.6 million dollars in 2012 currency, or about 235.3 million if the option was exercised in full. Closing was expected on or about 17 October 2012.
Renaissance Capital recorded the same 12.5 million shares, the same 17.50 dollars, and a 219 million dollar deal size inside a 17-to-19 dollar range. Credit Suisse was book-running manager.
The company's later investor FAQ dates the pricing to 11 October 2012 at the same 17.50 dollars a share.
The mechanism is a sponsor-backed basin IPO. Holders bought West Texas acreage and a repayment schedule, not a diversified major's global book.
The pin is the public facade of Nasdaq MarketSite at 4 Times Square, the later electronic face of the market that still prints FANG. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
changes?
delete this memory?
We detected that you have a Blox in your crypto wallet! We will import the Blox into your account.
Click on done below to complete the import.
Welcome Back!
Sign in to preserve cherished moments
Don't have an account?
Welcome!!
Sign up and start preserving cherished moments
?
?
Choose your payment method
Buy with Metablox Credit
Do you want to mint Blox with Metablox Credit?
Which Crypto would you like to use?
Purchase Confirmed!
Your Blox is being minted on-chain and will appear in your profile shortly.
Log in or sign up to claim your Blox.
How many credits do you want to buy?
$100 USD = 1 Metablox Credit = 1 Blox.
Use Metablox Credit to mint any Blox you want on the map.
expand_more