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
A California man has filed a lawsuit against McDonald's alleging that the fast food giant is defrauding customers by cramming its mozzarella sticks with filler instead of real cheese. Chris Howe is seeking at least $5 million in damages on behalf of consumers in 42 states and the District of Columbia. The... Jeep, the 4x4 vehicles, which has developed a strong bond with its masters, is aggressively on an expansion mode in its 75th anniversary year. Its fans have always been in love with the famous tag "Go Anywhere, Do Anything." Meat products maker Tyson Foods Inc. (TSN) reported a profit for the first-quarter that increased 49% from last year. It raised its profit outlook for fiscal year 2016 ,but it cut its annual sales guidance.
comments powered by Disqus
Follow RTT