Market Overview

SandRidge Mississippian Trust I Announces Receipt of Notice from NYSE Regarding Continued Listing Standards

Share:

SANDRIDGE MISSISSIPPIAN TRUST I (NYSE:SDT) (the "Trust") announced
today that it has received a notice from the New York Stock Exchange
("NYSE") that the Trust has fallen below the NYSE continued listing
requirement that the average closing price of the Trust's units of
beneficial interest be at least $1.00 per share, calculated over a
period of 30 consecutive trading days. The Trust received the deficiency
notice from the NYSE on December 31, 2018, and on January 4, 2019, the
Trust acknowledged receipt of the notice.

Under the NYSE standards, the Trust can avoid delisting if, during the
six-month period following receipt of the NYSE notice, on the last
trading-day of any calendar month, the Trust's common stock has a
closing price per share and a 30 trading-day average closing share price
of at least $1.00. The Trust has no control at all over the trading
price of the units, and does not intend to attempt to cause a reverse
split of the units or other action in an effort to affect the trading
price of the units.

During this period, the Trust's units will continue to be traded on the
NYSE, subject to compliance with other continued listing requirements.

View Comments and Join the Discussion!