SandRidge Energy, Inc. (fka SDOCQ)

[56Chevy]

SandRidge Energy, Inc. Announces Mandatory Conversion of $200 Million 6.0% Convertible Perpetual Preferred Stock

Date : 12/22/2014 @ 5:35PM
Source : PR Newswire (US)
Stock : Sandridge Energy Inc. (SD)
Quote : $2.03 0.12 (6.28%) @ 12:05PM

OKLAHOMA CITY, Dec. 22, 2014 /PRNewswire/ -- SandRidge Energy, Inc. (NYSE: SD) today provided the following notice regarding its 6.0% Convertible Perpetual Preferred Stock (Cusip 80007P885) (the "Convertible Preferred Stock").

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.

http://ih.advfn.com/p.php?pid=nmona&article=64888819

Marker:
Sandridge Energy Inc (SD)
$2.03 up 0.12 (6.28%)
Volume: 4,689,363