5 Mar 2024securities registration● Neutral
VNOM Sub, Inc. filed a prospectus supplement for an offering off its existing shelf.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 Mar 2024securities registration● Neutral
VNOM Sub, Inc. filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
20 Feb 2024quarterly activities report● Neutral
VNOM Sub, Inc. reported quarterly revenue of $205.0 million and net income of $43.0 million for the period ended 2024-03-31.
13 Feb 2024substantial holder notice● Neutral
The Vanguard Group disclosed a new substantial VNOM Sub, Inc. shareholding (7.98% of votes).
9 Feb 2024substantial holder notice● Neutral
Capital World Investors disclosed a new substantial VNOM Sub, Inc. shareholding (6.40% of votes).
8 Feb 2024substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP reported a VNOM Sub, Inc. shareholding of 13,490,896 shares (15.66% of votes) in a periodic institutional filing.
16 Jan 2024substantial holder notice● Neutral
BX Guidon Topco LLC, Blackstone Management Associates VI L.L.C, Blackstone Energy Management Associates II L.L.C, BMA VI L.L.C, Blackstone EMA II L.L.C, Blackstone Holdings III L.P, Blackstone Holdings III GP L.P, Blackstone Holdings III GP Management L.L.C, Blackstone Inc, Blackstone Group Management L.L.C, Stephen A. Schwarzman reported a VNOM Sub, Inc. shareholding of 4,447,347 shares (5.10% of votes) in a periodic institutional filing.
9 Jan 2024substantial holder notice● Neutral
BX SWT ML Holdco LLC, BX Guidon Topco LLC, Blackstone Management Associates VI L.L.C, Blackstone Energy Management Associates II L.L.C, BMA VI L.L.C, Blackstone EMA II L.L.C, Blackstone Holdings III L.P, Blackstone Holdings III GP L.P, Blackstone Holdings III GP Management L.L.C, Blackstone Inc, Blackstone Group Management L.L.C, Stephen A. Schwarzman reported a VNOM Sub, Inc. shareholding of 4,647,347 shares (5.30% of votes) in a periodic institutional filing.
3 Jan 2024director interest notice● Neutral
VNOM Sub, Inc. Chief Executive Officer Stice Travis D. gifted 14,864 shares.
19 Dec 2023substantial holder notice● Neutral
BX SWT ML Holdco LLC, BX Guidon Topco LLC, Blackstone Management Associates VI L.L.C, Blackstone Energy Management Associates II L.L.C, BMA VI L.L.C, Blackstone EMA II L.L.C, Blackstone Holdings III L.P, Blackstone Holdings III GP L.P, Blackstone Holdings III GP Management L.L.C, Blackstone Inc, Blackstone Group Management L.L.C, Stephen A. Schwarzman reported a VNOM Sub, Inc. shareholding of 5,797,347 shares (6.70% of votes) in a periodic institutional filing.
21 Nov 2023substantial holder notice● Neutral
Warwick Royalty and Mineral Master Fund LP, Alfredo Mattera, Ian Burgess reported no remaining VNOM Sub, Inc. shareholding in its periodic institutional filing.
20 Nov 2023director interest notice● Neutral
VNOM Sub, Inc. insider Warwick Royalty & Mineral Master Fund LP sold 9,018,760 shares at $28.70.
17 Nov 2023material agreement▲ GoodMajor
The company, now Viper Energy, Inc. after converting from a Delaware limited partnership to a corporation effective November 13, 2023, took on the 2027 and 2031 notes through supplemental indentures with Computershare. Warwick Royalty and Mineral Master Fund sold 9,018,760 Class A shares (the shares it received in the acquisition) at $28.70 in a public offering that closed November 16, with no proceeds to the company. The company bought 1,000,000 of those shares at $28.70 under its repurchase program.
15 Nov 2023substantial holder notice● Neutral
BX SWT ML Holdco LLC, BX Guidon Topco LLC, Blackstone Management Associates VI L.L.C, Blackstone Energy Management Associates II L.L.C, BMA VI L.L.C, Blackstone EMA II L.L.C, Blackstone Holdings III L.P, Blackstone Holdings III GP L.P, Blackstone Holdings III GP Management L.L.C, Blackstone Inc, Blackstone Group Management L.L.C, Stephen A. Schwarzman reported a VNOM Sub, Inc. shareholding of 6,222,347 shares (7.10% of votes) in a periodic institutional filing.
15 Nov 2023securities registration● Neutral
VNOM Sub, Inc. filed a prospectus supplement for an offering off its existing shelf.
13 Nov 2023securities registration● Neutral
VNOM Sub, Inc. filed a prospectus supplement for an offering off its existing shelf.
13 Nov 2023director interest notice● Neutral
Warwick Royalty & Mineral Master Fund LP became a VNOM Sub, Inc. company insider (initial ownership filing).
13 Nov 2023substantial holder notice● Neutral
Warwick Royalty and Mineral Master Fund LP, Alfredo Mattera, Ian Burgess disclosed a new substantial VNOM Sub, Inc. shareholding (10.40% of votes).
13 Nov 2023securities registration● Neutral
VNOM Sub, Inc. filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
8 Nov 2023quarterly activities report● Neutral
VNOM Sub, Inc. reported quarterly revenue of $293.2 million and net income of $78.6 million for the period ended 2023-09-30.
7 Nov 2023asset acquisition disposition● NeutralMajor
On November 1, 2023 the company closed the Warwick/GRP mineral and royalty purchase signed September 4, effective October 1, 2023, paying $750 million in cash plus 9,018,760 new common units. The cash came from cash on hand, the $400 million 2031 notes, $200 million from selling 7,215,007 units to Diamondback, and revolver borrowings. This resolves the pending deal, so the new units and the Diamondback units now dilute existing holders, and the sellers get registration rights; the 2031 notes' December 29 mandatory-redemption condition no longer applies (inference from closing before that date).
6 Nov 2023quarterly activities report● Neutral
VNOM Sub, Inc. reported quarterly revenue of $293.2 million and net income of $78.6 million for the period ended 2023-09-30.
25 Oct 2023security holder rights change● NeutralMajor
On October 19, 2023 the company completed the $400 million 7.375% senior notes offering due November 1, 2031, with interest paid May 1 and November 1 starting May 1, 2024. The notes are unsecured, guaranteed by the operating company, callable from November 1, 2026, and carry a 101% change-of-control repurchase offer. The company must redeem them if the pending acquisition does not close by December 29, 2023. The indenture limits distributions and unit repurchases, which could matter to unitholders.
17 Oct 2023material agreement● NeutralMajor
On October 12, 2023 the company agreed to sell $400 million of 7.375% senior notes due 2031 in a private placement to initial purchasers led by Wells Fargo Securities, expected to close October 19. Proceeds are to be lent to the operating company to pay part of the cash price of the pending Warwick/GRP acquisition, and may repay revolver debt until closing. The company also said it intends to exercise in full its right to sell common units to Diamondback.
12 Oct 2023quarterly activities report● Neutral
VNOM Sub, Inc. reported quarterly revenue of $293.2 million and net income of $78.6 million for the period ended 2023-09-30.
28 Sept 2023debt financing▲ GoodMajor
On September 22, 2023 two more revolver amendments extended maturity from June 2, 2025 to September 22, 2028, raised the elected commitment from $750 million to $850 million, and lifted the borrowing base from $1 billion to $1.25 billion once the pending Warwick/GRP acquisition closes. They also waive the borrowing-base reduction for up to $750 million of new senior unsecured notes. Separately, on September 27 the operating company signed a lease with a Diamondback subsidiary (approved by the conflicts committee) with a $95.8 million lease bonus, to be used to temporarily reduce revolver debt.
7 Sept 2023capital raising announcement● NeutralMajor
On September 4, 2023 the company agreed to buy mineral and royalty interests (about 7,300 net royalty acres, over 90% Permian by production and value) from affiliates of Warwick Capital Partners and GRP Energy Capital, for an agreed value of $1 billion: $750 million cash plus 9,018,760 new common units. Closing is expected mid-Q4 2023; the cash may come from cash on hand, revolver borrowings, up to $200 million of committed equity from Diamondback (up to 7,215,007 units), and possibly a bond offering. The new units dilute existing holders and the sellers get registration rights.
8 Aug 2023substantial holder notice● Neutral
BX SWT ML Holdco LLC, BX Guidon Topco LLC, Blackstone Management Associates VI L.L.C, Blackstone Energy Management Associates II L.L.C, BMA VI L.L.C, Blackstone EMA II L.L.C, Blackstone Holdings III L.P, Blackstone Holdings III GP L.P, Blackstone Holdings III GP Management L.L.C, Blackstone Inc, Blackstone Group Management L.L.C, Stephen A. Schwarzman reported a VNOM Sub, Inc. shareholding of 7,002,347 shares (9.90% of votes) in a periodic institutional filing.
3 Aug 2023quarterly activities report● Neutral
VNOM Sub, Inc. reported quarterly revenue of $293.2 million and net income of $78.6 million for the period ended 2023-09-30.
1 Aug 2023director interest notice● Neutral
VNOM Sub, Inc. director James L. Rubin received 3,863 shares as part of the equity award.