SandRidge Mississippian Trust I, a newly-formed trust that holds royalty interests in 37 producing and 123 development wells, announced terms for its IPO on Thursday. The Austin, TX-based company plans to raise $250 million by offering 12.5 million shares at a price range of $19.00 to $21.00. At the mid-point of the proposed range, SandRidge Mississippian Trust I will command a market value of $560 million. SandRidge Mississippian Trust I was founded in 2010 and plans to list on the NYSE under the symbol SDT. Raymond James and Morgan Stanley are the lead underwriters on the deal, which is expected to price during the week of 4/4/11.
