NEW YORK (TheStreet) -- Shares of Viper Energy Partners LP (VNOM) - Get Report are slipping, down 3.44% to $27.52 today, after the company offered 2.5 million of its common stock at $28.50 per share late Monday.

Viper will grant underwriters a 30 day option to purchase up to 525,000 common units at the public offering price.

The company said the net proceeds from the offering will be used to repay borrowings under its credit agreement and to fund pending and future acquisitions.

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VNOM data by YCharts

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