* To offer 24 mln shares in total, 18 mln from its common stock
* Adds 12 new underwriters to the offering
Feb 29 (Reuters) - Midstates Petroleum Company Inc told U.S regulators on Tuesday it plans to offer 24 million shares for $16 to $18 a piece.
In a filing with the U.S Securities and Exchange Commission, the Houston-based company said it is offering 18 million shares from its common stock and selling stockholders will offer an additional 6 million shares.
The company added 12 new underwriters to the offering in addition to the three lead underwriters it named in November.
Barclays Capital, Citigroup Inc and RBC Capital Markets are among the newly-named underwriters.
In November, the independent exploration and production company had filed with the SEC to raise up to $400 million in an initial public offering of its common stock. It had not revealed how many shares it planned to sell or their expected price.
Midstates Petroleum expects to receive about $280 million from the proceeds and said it will not receive any proceeds from the sale of shares by the selling shareholders.
The company intends to use proceeds from the offering to redeem previously issued preferred units by its holding company, repay debt and fund its exploration and development program.
The company said it has applied to list its common stock on the New York Stock Exchange under the symbol “MPO.”
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.