Business Context and Reporting Period
This Form 8-K filing by SandRidge Energy, Inc. (Delaware) covers the date of January 7, 2016. The report addresses a significant corporate event regarding the listing status of the Company's common stock.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on regulatory and listing status updates rather than financial performance data.
Material Changes
- Delisting from NYSE: On January 7, 2016, the Company was notified by the New York Stock Exchange (NYSE) that proceedings to delist its common stock were commencing due to "abnormally low" trading price levels under Section 802.01D of the NYSE Listed Company Manual.
- Trading Suspension: Trading in the Company's common stock was suspended after market hours on January 6, 2016.
- Transfer to OTC Market: Effective January 7, 2016, the Company's common stock commenced trading on the OTC Pink marketplace under the symbol "SDOC."
- No Appeal: The Company explicitly stated it does not intend to appeal the NYSE's determination.
Outlook, Risks, and Management Commentary
Management provided no financial guidance or outlook in this filing. However, significant risks regarding future trading were highlighted:
- The Company can provide no assurance that its common stock will continue to trade on the OTC Pink marketplace.
- There is no guarantee that broker-dealers will continue to provide public quotes.
- Trading volume may be insufficient to provide an efficient trading market.
- Quotes for the common stock may be blocked by OTC Markets Group in the future.
Key Facts for Investor Verification
- Verify the current trading status and symbol (SDOC) on the OTC Pink marketplace.
- Confirm the availability of broker-dealer quotes and trading liquidity for the stock.
- Review subsequent filings for any updates on the Company's financial condition or potential restructuring plans following the delisting.
- Monitor for any regulatory actions by the SEC regarding the delisting process.