SandRidge Mississippian Trust II (SDR) IPO Opens Higher
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The IPO for SandRidge Mississippian Trust II (NYSE: SDR) opened for trading at $21.80 after pricing 26,000,000 common units at $21.00, the top end of the expected price range of $19.00 to $21.00.
Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., BofA Merrill Lynch, Citigroup Global Markets Inc., and RBC Capital Markets, LLC are serving as joint book-running managers of this offering. UBS Securities LLC, Oppenheimer & Co. Inc., Wunderlich Securities, Inc., Sanders Morris Harris Inc., and Johnson Rice & Company L.L.C. are serving as co-managers.
SandRidge Mississippian Trust II is a Delaware statutory trust formed by SandRidge Energy, Inc. to own certain royalty interests in oil and natural gas wells in the Mississippian formation in northern Oklahoma and southern Kansas.
Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., BofA Merrill Lynch, Citigroup Global Markets Inc., and RBC Capital Markets, LLC are serving as joint book-running managers of this offering. UBS Securities LLC, Oppenheimer & Co. Inc., Wunderlich Securities, Inc., Sanders Morris Harris Inc., and Johnson Rice & Company L.L.C. are serving as co-managers.
SandRidge Mississippian Trust II is a Delaware statutory trust formed by SandRidge Energy, Inc. to own certain royalty interests in oil and natural gas wells in the Mississippian formation in northern Oklahoma and southern Kansas.
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