Sterling Check Corp. (NASDAQ: STER), a leading provider of background and identity services, has announced the pricing of an underwritten secondary public offering of 8,000,000 shares of its common stock by certain of its existing stockholders affiliated with The Goldman Sachs Group, Inc. at a price to the public of US$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. The offering is expected to close on June 12, 2023, subject to the satisfaction of customary closing conditions.
Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York/Los Angeles partner Greg Rodgers and New York partner Benjamin Cohen, with associates Hana Nah, Adam Weber, and Amanda Farrish. Advice was also provided on tax matters by Century City/Orange County partner Sam Weiner, with associate Ryan Brenner; on executive compensation, employment & benefits matters by New York partner Jennifer Pepin; on sanctions and FCPA matters by Washington, D.C. partners Eric Volkman and Erin Brown Jones, with associate Matthew Gregory; and on intellectual property matters by New York partner Jeffrey Tochner; on data privacy matters by Washington, D.C. partner Marissa Boynton and London partner Fiona Maclean, with associates Deborah Hinck and Lorenzo Meusburger; and on government contracts matters by Washington, D.C. partners Dean Baxtresser and Kyle Jefcoat.