Sterling Bancorp Completes $180M IPO

Sterling Bancorp Completes $180M IPO, Now Trading on Nasdaq
– ABL Advisor

Manatt represented Sandler O’Neill & Partners LP, an investment banking firm, as underwriter’s counsel in the IPO of Sterling Bancorp. The team was led by Craig Miller, co-chair of the firm’s financial services transactions practice, and was covered by ABL Advisor and Law360.

Sandler O’Neill acted as the sole book-running manager for Sterling’s $180 million initial public offering, one of the largest IPOs for a financial holding company in 2017. Sterling, a Michigan-based thrift holding company with operations centered in San Francisco and Los Angeles, has a large and growing portfolio of adjustable-rate residential mortgage loans. Sterling will trade on the NASDAQ Global Select Market as “SBT” and intends to substantially contribute its net proceeds of the offering to support the bank’s current and future growth and select acquisitions.

The deal closed on Nov. 21, 2017. In addition to Miller, the team included partners Katherine Blair and Robert Duran and associates Jessica Iwasaki and Suwani Karki.

Read the article here

manatt-black

ATTORNEY ADVERTISING

pursuant to New York DR 2-101(f)

© 2024 Manatt, Phelps & Phillips, LLP.

All rights reserved