trending Market Intelligence /marketintelligence/en/news-insights/trending/tc28PdTXW6bNCAxMCUtL7Q2 content esgSubNav
In This List

Michigan-based Sterling completes IPO

Blog

Banking Essentials Newsletter: September Edition

Blog

Beyond ESG with Climate Stress Testing: Getting Practical at Banks & Insurers

Blog

Post-Webinar Q&A: Integrating Climate Risks into Credit Risk Portfolios

Blog

Insight Weekly: Hurricane Ida impact; banks seek PPP forgiveness; commodities boom disruption


Michigan-based Sterling completes IPO

Southfield, Mich.-based Sterling Bancorp Inc. has completed its IPO. It sold 7,692,308 shares at $12 each, the low end of its expected price range.

Net proceeds to the company amounted to approximately $85.6 million. Its stock now trades on the Nasdaq Capital Market under the ticker symbol SBT.

Selling shareholders sold a total of 7,307,692 shares. The offering's underwriters have an option to buy up to 2,250,000 more shares from them.

Sandler O'Neill & Partners LP is the sole underwriter.