13D Filing: Icahn Capital LP and Sandridge Energy Inc (SD)

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)*

Sandridge Energy, Inc.

(Name of Issuer)

common stock, par value $0.001 per share

(Title of Class of Securities)

80007P869

(CUSIP Number)

Jesse Lynn, Esq.

Icahn Capital LP

767 Fifth Avenue, 47^th Floor

New York, New York 10153

(212) 702-4300

(Name, Address and Telephone Number of Person Authorized to

Receive Notices and Communications)

April 4, 2018

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Section 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box / /.

NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d‑7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

On March 19, 2018, the Issuer announced that it will undertake a formal process to evaluate strategic alternatives (the “Process”).

The Reporting Persons have grave concerns about the Process and have had discussions imparting such concerns to the Issuer. Specifically, the Reporting Persons believe that the Process – if overseen by the Issuer’s current board of directors, who have a history of making poor decisions on behalf of stockholders (which the Reporting Persons intend to detail for stockholders over the course of the next few months) – is likely to be value destructive.

As a result of these concerns, on April 4, 2018, the Reporting Persons informed the Issuer that they intend to nominate for election to the Issuer’s board of directors at the 2018 annual meeting of stockholders a full slate of candidates that would publicly commit to run – in a fair and timely manner – its own formal process to evaluate strategic alternatives, which would include a commitment to submit the highest and best offer to a vote of the Issuer’s stockholders. In that case, the Reporting Persons believe they would, after conducting due diligence, be willing to make an all-cash offer that would allow the Issuer’s stockholders the choice to monetize their investment or continue on as stockholders of the Issuer. However, obviously if the new board were presented with a higher offer from another party, and the Reporting Persons did not top it, that offer would be presented to stockholders.

SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS RELATED TO THE SOLICITATION OF PROXIES BY CARL ICAHN AND HIS AFFILIATES FROM THE STOCKHOLDERS OF SANDRIDGE ENERGY, INC. IN CONNECTION WITH THE 2018 ANNUAL MEETING OF STOCKHOLDERS OF SANDRIDGE ENERGY, INC. (THE “ANNUAL MEETING”) WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION RELATING TO THE PARTICIPANTS IN SUCH PROXY SOLICITATION. WHEN COMPLETED, A DEFINITIVE PROXY STATEMENT AND A FORM OF PROXY RELATED TO THE ANNUAL MEETING WILL BE MAILED TO STOCKHOLDERS OF SANDRIDGE ENERGY, INC. AND WILL ALSO BE AVAILABLE AT NO CHARGE AT THE SECURITIES AND EXCHANGE COMMISSION’S WEBSITE AT HTTP://WWW.SEC.GOV.