Market Overview

SandRidge Mississippian Trust II Launches Initial Public Offering


SandRidge Mississippian Trust II (NYSE: SDR) announced today that it has commenced an initial public offering of 26,000,000 common units representing a 52% beneficial interest in the Trust, along with 3,900,000 additional common units that may be purchased at the option of the underwriters to cover over-allotments. The initial public offering is being made pursuant to a Registration Statement on Form S-1 and Form S-3 previously filed with the U.S. Securities and Exchange Commission. Following completion of the offering, SandRidge Energy, Inc. (NYSE: SD) (SandRidge), as sponsor of the Trust, will own approximately 11.3 million common units, assuming no exercise of the underwriters' option, and approximately 12.4 million subordinated units convertible into common units, and the Trust will have a total of 49,725,000 units outstanding. The common units have been approved for listing on the New York Stock Exchange, and will trade under the symbol "SDR."

Posted-In: News IPOs


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