VNOM Sub, Inc.: M&A transaction — Viper Energy Partners closes $750M cash + 9.02M unit acquisition of mineral interests from GRP Energy affiliates

VNOM Sub, Inc.

Consideration: $750M cash and ~9.02M Viper common units to affiliates of Warwick Capital Partners and GRP Energy Capital.
Cash funded by $400M 7.375% senior notes due 2031, $200M from Diamondback for 7.22M units, and credit facility borrowings.
Acquisition effective October 1, 2023; Sellers received registration rights for the issued common units.
Viper to file financial statements and pro forma information for the acquired assets within 71 days.

item 1.01 item 2.01 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.99

VNOM Sub, Inc. completed an acquisition involving Royalty Asset Holdings, LP, Royalty Asset Holdings II, LP and Saxum Asset Holdings, LP for 9,018,760 common units and $750 million in cash (closed 2023-11-01).

Action: acquisition
Counterparty: Royalty Asset Holdings, LP, Royalty Asset Holdings II, LP and Saxum Asset Holdings, LP
Consideration: 9,018,760 common units and $750 million in cash
Closing: 2023-11-01

Exact text from the filing

dated as of September 4, 2023, by and among the Buyer Parties and the Sellers (the “Purchase and Sale Agreement”). The total consideration for the Acquisition consisted of 9,018,760 common units representing limited partnership interests in Viper (the “Common Units”) (the “Common Unit Consideration”) and $750 million in cash (the “Cash Consideration”). The

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.85

VNOM Sub, Inc. entered into Common Unit Purchase and Sale Agreement with Viper’s parent, Diamondback Energy, Inc. (effective 2023-09-07).

Action: entry
Agreement: equity purchase
Counterparty: Viper’s parent, Diamondback Energy, Inc.
Effective: 2023-09-07

Exact text from the filing

e of 7,215,007 Common Units to Viper’s parent, Diamondback Energy, Inc. (“Diamondback”), under that certain Common Unit Purchase and Sale Agreement (the “Common Unit Purchase Agreement”) described in Item 1.01 of Viper’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on September 7, 2023 (the “Initial 8-K”)

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Source: SEC EDGAR

accession 0001602065-23-000086

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