SandRidge Energy Inc. (f.k.a. Riata Energy), an Oklahoma City-based oil and gas exploration and production company, has raised $746.2 million through its IPO. The company priced 26 million common shares at $26 per share, compared to its original plans to price 26 million shares at between $22 and $24 per share. It has an initial market cap of approximately $3.5 billion, and will trade on the NYSE under ticker symbol SD.
Lehman Brothers served as lead underwriter. Ares Management holds a 12.3% ownership stake, based on a $250 million common stock investment it made earlier this year. SandRidge filed for a $276 million IPO last year, but later withdrew its registration. www.sandridgeenergy.com