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Two out of three stocks created nearly a decade ago by SandRidge Energy to raise about $1.6 billion in capital have been relegated to over-the-counter trading as the funding program nears completion.
SandRidge Mississippian Trust I, which had been traded on the New York Stock Exchange under the ticker symbol SDT, was removed from the exchange this week. A release issued by Bank of New York Mellon Trust Co., its trustee, stated the stock was delisted after it failed to satisfy the exchange’s continued listing compliance standard. Under the exchange’s rules, a stock initially is given a six-month curative period to regain compliance with its minimum $1 per share price requirement and can do so by having a closing price of at least $1 on the last trading day of two consecutive calendar months during that time.

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