Viper Energy (VNOM) said Thursday it has priced an expanded public offering of 24.6 million Class A common shares at $44.5 per share, increasing by 2.6 million shares compared to the initial plan.

Underwriters have a 30-day option to buy up to 3.7 million extra shares at the offering price, the company stated.

The company also said the sale is expected to generate roughly $1.1 billion in net proceeds, or $1.2 billion if the underwriters fully exercise their option.

Proceeds will primarily be used to fund the cash portion of its planned acquisition of mineral and royalty interests from its parent, Diamondback Energy (FANG), or for general corporate purposes if the deal does not go through.

The transaction is anticipated to close on Feb. 3, pending standard closing conditions, Viper added.