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SandRidge Plans $600M Offering

SandRidge Energy is seeking to raise about $600 million in an initial public offering of its common units.

SandRidgeEnergy is seeking to raise about $600 million in an initial public offering of its common units. The underwriters will have an option to buy about $90 million in additional common units within 30 days of closing to cover over allotments.

Morgan Stanley will serve as lead book-running manager of the offering. The oil and natural gas company intends to list its shares on the New York Stock Exchange. The issued units will represent beneficial interests in SandRidge Permian Trust, a newly formed Delaware trust.

Click here for the release from PR Newswire.

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