logo
Share SHARE
FONT-SIZE Plus   Neg

SandRidge Says That Mississippian Trust II Commences Initial Public Offering

SandRidge Energy Inc (SD) Monday announced that the SandRidge Mississippian Trust II has commenced the initial public offering of 26 million common units. SandRidge further revealed that the offering represents approximately 52% beneficial interest in the Trust.

The Trust has stated that it has offered an additional 3.90 million common units to the underwriters for the issue to cover over-allotments, if any.

SandRidge added that the initial public offering is being made pursuant to the Registration Statement filed with the Securities and Exchange Commission, or the SEC, under Form-1 and Form-3 already filed with the SEC.

As a sponsor of the trust, SandRidge Energy will own approximately 11.3 million common units, assuming no exercise of the underwriters' option, and approximately 12.4 million subordinated units convertible into common units.

The company added that the common units will be listed for trading in the NYSE under the ticker "SDR".

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Best Buy Co., Inc. (BBY) reported first-quarter non-GAAP earnings per share from continuing operations of $0.44, an increase of 19% from $0.37, a year ago. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $0.35 for the quarter. Analysts' estimates typically... Automotive parts retailer AutoZone, Inc. on Tuesday reported a 6 percent increase in profit for the third quarter from last year, reflecting growth in sales and higher inventory on new store openings. However, both revenue and earnings per share for the quarter missed analysts' expectations. Toll Brothers, Inc. (TOL), the nation's leading builder of luxury homes, reported second-quarter net income of $89.1 million, or $0.51 per share, compared to $67.9 million, or $0.37 per share, prior year. Pre-tax income increased to $140.4 million from $86.5 million. On average, 18 analysts polled by...
comments powered by Disqus
RELATED NEWS
Trade SD now with 
Follow RTT