SandRidge Energy, Inc. (SD) announced the pricing of its registered underwritten public offering of 24.00 million shares of the company's common stock, 2.00 million of which are being offered by Tom Ward, the company's chairman, chief executive officer and president, at a price to the public of $8.85 per share.
The company has also granted the underwriters of the offering a 30-day option to purchase up to 3.60 million additional shares of common stock.
Net proceeds to the company from this offering will be used to fund a portion of the purchase price of its previously announced acquisition of oil and gas properties in the Permian Basin region from Forest Oil Corp.
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