Initial Public Offering
Baird served as a co-manager in this offering
AboutSandRidge Mississippian Trust I (NYSE:SDT) (the “Trust”) recently completed an initial public offering of 17,250,000 units of its royalty trust interests at a price of $21.00 per unit, generating gross proceeds of $362.3 million. The Trust will deliver the net proceeds to the Trust’s sponsor, SandRidge Energy, Inc., who will use the proceeds to repay borrowings under its credit facility and for general corporate purposes, which may include the funding of the Trust’s drilling obligation.
SandRidge Mississippian Trust I is a Delaware statutory trust formed by SandRidge Energy, Inc. to own certain royalty interests in oil and natural gas wells in northern Oklahoma producing from the Mississippian formation.
SandRidge Energy, Inc. is an oil and natural gas company headquartered in Oklahoma City, Oklahoma, with its principal focus on exploration and production. SandRidge Energy, Inc. focuses its exploration and production activities in the Permian Basin, Mid-Continent, West Texas Overthrust, Cotton Valley Trend in East Texas, Gulf Coast and Gulf of Mexico.
For additional information about this transaction, please contact:
- April 2011
- SandRidge Mississippian Trust I
- Target Location
- North America