Deal Details

Sterling Completes $98 Million Follow-On Offering

Technology & Services

Sterling follow-on offering

Summary

Sterling Check Corp. (“Sterling”) (NASDAQ: STER), a portfolio company of Goldman Sachs Capital Partners (“Goldman”), recently completed a secondary public offering of the Company's common stock (the "Offering") by Goldman. Sterling priced 8,000,000 shares at a price of $12.25 per share. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock. Sterling did not sell any shares in the Offering and did not receive any proceeds from the Offering.

Concurrently, Sterling entered into a share repurchase agreement with one of the selling stockholders to repurchase 1,000,000 shares of common stock directly from such selling stockholder at a price per share equal to the price paid by the underwriters in the Offering.

Baird served as a bookrunner on this transaction.

About

Sterling is a leading global provider of background and identity services, offering background and identity verification services to help over 50,000 clients create people-first cultures built on a foundation of trust and safety. Sterling’s tech-enabled services help organizations across all industries and regions establish great environments for their workers, partners, and customers. With operations in North America, Europe, the Middle East, Asia Pacific, and Latin America, Sterling conducted more than 110 million searches in the twelve months ended December 31, 2022.