Sterling Bancorp, Inc. Announces Completion of Initial Public Offering
Sterling Bancorp, Inc. (SBT)
Last sterling bancorp, inc. earnings: 10/28 04:07 pm
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sterlingbancorp.com
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Source: Business Wire
SOUTHFIELD, Mich.--(BUSINESS WIRE)-- Sterling Bancorp, Inc. (NASDAQ: SBT) “Sterling” today announced that it has completed its initial public offering of 15,000,000 shares of common stock at a price to the public of $12.00 per share and a total offering size of $180,000,000. Sterling sold 7,692,308 shares and the selling shareholders sold 7,307,692 shares of Sterling's common stock. The offering resulted in net proceeds to Sterling of approximately $85.6 million after deducting the underwriting discount and estimated offering expenses. Sterling did not receive any proceeds from the sale of shares by the selling shareholders. Sterling Bancorp's common stock now trades on the Nasdaq Capital Market under the symbol "SBT." The underwriters have a 30-day option to purchase up to an additional 2,250,000 shares of common stock from the selling shareholders at the initial public offering price less the u
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