Sterling Check, which provides tech-enabled background screening and identity verification services, raised $329 million by offering 14.3 million shares (67% secondary) at $23, above the range of $20 to $22.
Sterling Check offers comprehensive hiring and risk management solutions including identity verification, criminal background screening, credential verification, and drug and health screening, as well as processing of employee documentation required for onboarding and ongoing risk monitoring. The company completed over 75 million searches for over 40,000 clients, including over 50% of the Fortune 100 and over 45% of the Fortune 500.
Sterling Check plans to list on the Nasdaq under the symbol STER. Goldman Sachs, J.P. Morgan, Morgan Stanley, Baird, William Blair, KeyBanc Capital Markets, Nomura Securities, and Stifel acted as joint bookrunners on the deal.
