SandRidge Mississippian Trust II (SDR) IPO Opens Higher

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.

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