Diamondback Energy Inc (FANG)

[Wildbilly]

Diamondback Energy 4.5 Million Share Offering Prices at 23-Cent Discount

By Kristin Jones

  Diamondback Energy Inc.'s (FANG) increased offering of 4.5 million shares priced at $29.25, a discount of 0.8% to its Wednesday closing price.
  The energy company said Wednesday that it was launching an offering of four million shares, as it looks to repay debt and to fund exploration and development.
  The energy company expected to have roughly 41 million shares outstanding after the offering.
  Shares were up 22 cents at $29.70 after hours.

  Write to Kristin Jones at [e-mail]

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  (END) Dow Jones Newswires
  May 15, 2013 20:00 ET (00:00 GMT)
  Copyright (c) 2013 Dow Jones & Company, Inc.- - 08 00 PM EDT 05-15-13
Source: DJ Broad Tape

I would expect that to correct in the short term, but wtfdIk?