Sterling Check Corp.

Sterling Check Corp. (STER) priced its initial public offering on Sep 24, 2021 at $23.00 per share, above its $20.00–$22.00 range, raising $328.6M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $2.16B. Goldman Sachs was lead-left underwriter, joined by J.P. Morgan, Morgan Stanley and Baird and others. Fried Frank advised the company and Latham & Watkins advised the underwriters.

Sterling Check Corp. provides technology-enabled background and identity verification services. Its hiring and risk management offering covers identity verification, criminal background screening, credential verification, drug and health screening, onboarding documentation and ongoing monitoring, delivered on a cloud-based platform.

Status

IPO

Ticker

STER

Exchange

Nasdaq Global Select

Priced

Sep 24, 2021

IPO price

$23.00

Price range

$20.00–$22.00

Raised

$328.6M

Market cap at IPO price

$2.16B

First filed

Aug 27, 2021

Underwriters

Goldman Sachs, J.P. Morgan, Morgan Stanley, Baird, William Blair, KeyBanc, Nomura, Stifel and ING

Company counsel

Fried Frank

Underwriters' counsel

Latham & Watkins

Sector

Technology

Country / state

OH

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.