Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

SandRidge Says That Mississippian Trust II Commences Initial Public Offering

RELATED NEWS
Trade SD now with 

SandRidge Energy Inc (SD: Quote) 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".

Click here to receive FREE breaking news email alerts for SandRidge Energy Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks saw some volatility following the release of the Federal Reserve's monetary policy announcement on Wednesday but managed to end the day modestly higher. With the upward move, the Dow reached a new record closing high. President Barack Obama sought to emphasize in remarks on Wednesday that the American forces being deployed as part of the fight against the terrorist group ISIS will not have a combat mission. Republican Joni Ernst has moved into the lead in the potentially crucial Iowa Senate race, according to the results of a Quinnipiac University poll released on Wednesday. The poll found that 50 percent of likely Iowa voters would support Ernst if the election were held today, while 44 percent would vote for Democratic Rep. Bruce Braley.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.