The company exited Chapter 11 protection with about $525 million in total liquidity, a substantial increase from a previous forecast of $400 million.
Its new capital structure will includes a $425 million first lien credit facility due and $300 million in debt that will convert into equity.
SandRidge also planned upon exit to issue common stock representing 100% equity interest in the reorganised company to its pre-bankruptcy second lien and general unsecured creditors.
On
