Sterling Check sets IPO terms, to value the company at up to $2.1 billion

Sterling Check Corp. has set terms of its initial public offering, in which the New York-based background and identity verification services company looks to valued at up to $2.07 billion. The company is looking to raise up to $104.7 million as it is offering 4.76 million shares in the IPO, which is expected to price between $20 and $22 a share, while selling stockholders are offering 9.53 million shares to raise up to $209.6 million. The company expects to have 93.96 million shares outstanding after the IPO. The stock is expected to list on the Nasdaq under the ticker symbol "STER." Goldman Sachs, J.P. Morgan and Morgan Stanley are the lead underwriters. The company recorded net income of $4.0 million on revenue of $298.7 million for the six months ended June 30, after a loss of $40.8 million on revenue of $207.9 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF has gained 8.3% over the past three months while the S&P 500 has tacked on 5.0%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Sterling Check sets IPO terms, to value the company at up to $2.1 billion
Sterling Check Corp. has set terms of its initial public offering, in which the New York-based background and identity verification services company looks to valued at up to $2.07 billion. The company is looking to raise up to $104.7 million as it is offering 4.76 million shares in the IPO, which is expected to price between $20 and $22 a share, while selling stockholders are offering 9.53 million shares to raise up to $209.6 million. The company expects to have 93.96 million shares outstanding after the IPO. The stock is expected to list on the Nasdaq under the ticker symbol "STER." Goldman Sachs, J.P. Morgan and Morgan Stanley are the lead underwriters. The company recorded net income of $4.0 million on revenue of $298.7 million for the six months ended June 30, after a loss of $40.8 million on revenue of $207.9 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF has gained 8.3% over the past three months while the S&P 500 has tacked on 5.0%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.