|
SandRidge Energy, 6.00% Convertible Perpetual Preferred Stock
Ticker Symbol: SDRXO* CUSIP: 80007P885 Exchange: OTOTC
* NOTE: This security is no longer trading as of 12/21/2014
Company's Online Profile
BUSINESS: SandRidge Energy, 6.00% Convertible Perpetual Preferred Stock
|
Find All Related Securities for SD
Notes: Dec. 22, 2014 -- SandRidge Energy, Inc. today provided the following notice regarding its 6.0% Convertible Perpetual Preferred Stock (Cusip 80007P885). As of December 21, 2014, pursuant to the mandatory conversion requirement of Section 8(a) of the Certificate of Designation governing the terms of the Convertible Preferred Stock, each share of Convertible Preferred Stock automatically converted into 9.211496 shares of Common Stock of the Company. Effective as of December 21, 2014, dividends on the Convertible Preferred Stock ceased to accrue. The Company completed the sale of the Convertible Preferred Stock for an aggregate purchase price of $200 million in 2009. ____________ Nov. 30, 2009 -- New Convertible Perpetual Preferred Stock. The company has entered into an agreement to issue and sell 2,000,000 shares of its 6.0% convertible perpetual preferred stock to an institutional investor for an aggregate purchase price of $200 million. The issuance and sale of the convertible preferred stock is expected to close at the same time as the Forest Acquisition. Each share of convertible preferred stock will be convertible at any time on or after February 1, 2010 at the option of the holder into a number of shares of the company’s common stock equal to the liquidation preference of $100 divided by the conversion price, which is initially $10.856 per share, subject to adjustments in certain circumstances. Based on the initial conversion price, approximately 18,422,992 shares of common stock would be issuable upon conversion of all of the shares of convertible preferred stock. Five years after their issuance, all outstanding shares of the convertible preferred stock will be converted automatically into common stock at the then-prevailing conversion price. The issuance and sale of the convertible preferred stock will not be registered under the Securities Act of 1933 and will be effected pursuant to an exemption from such registration requirements.
|
|
Company's Online Information Links
|
| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 123 Robert S. Kerr Avenue, Oklahoma City, OK 73102 |
| Main Phone Number |
405-429-5500 |
| Fax Number |
405-429-5977 |
| Investor Contact
Kevin R. White
|
405-429-5515
|
Toll Free Phone Number |
Unknown |
| CEO - Tom L. Ward |
CFO - James D. Bennett |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|
