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
Dish Network is no longer carrying Fox News in yet another dispute for the television provider. Fox News, which changed the face of cable news with its ardent advocacy of conservative issues, went dark Sunday, replaced on Dish by The Blaze, Glen Beck's new right-leaning channel. Fox Business channel... Swiss drug maker Roche Holding said a late-stage trial of its breast cancer drug Kadcyla did not provide superior results compared with an existing therapy. FCA US, until recently known as Chrysler, said Friday it is recalling 257,000 Dodge Ram pickups. The auto maker says the rear axle pinion nut on certain model year 2005 Dodge Ram 1500 trucks may loosen due to an undersized spline on the pinion gear. If the pinion nut loosens, the rear axle may...
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.