Midstates Petroleum Company has announced its IPO. The company is offering 24 mn shares of stock and plans to list on NYSE under the symbol MPO. The energy company says it plans to use the proceeds to ‘redeem preferred units that were previously issued by an affiliate’ of the company, as well as to ‘repay a substantial portion of its outstanding indebtedness’. Midstates Petroleum Company won’t actually receive any of the IPO proceeds. The lead underwriters are Goldman Sachs, Morgan Stanley and Wells Fargo Securities.

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Source: MarketWatch