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| Date | Client | Type | Sub-Type | Amt. | Logo | Sector/Sub-Sector | Description | Tombstone Description | PSC Role | |
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| Published | 12/31/2025 | PureSpectrum | Mergers & Acquisitions | Sell-Side | Image
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Technology, Software | Piper Sandler served as sell-side advisor for PureSpectrum, a portfolio company of Arthur Ventures Management, on its sale to TA Associates Management | PureSpectrum, a portfolio company of Arthur Ventures Management, has entered into a strategic partnership with TA Associates | Financial Advisor | |
| Published | 12/31/2025 | CRS TH Holdings | Mergers & Acquisitions | Sell-Side | Image
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Financial Services, Insurance, Services & Industrials, Business Services | Piper Sandler served as sell-side advisor for CRS TH Holdings, a portfolio company of Reverence Capital Partners, on its sale to Ridgemont Equity Partners | CRS TH Holdings, a portfolio company of Reverence Capital Partners, has been acquired by Ridgemont Equity Partners | Financial Advisor | |
| Published | 12/31/2025 | Surface Preparation Technologies | Mergers & Acquisitions | Sell-Side | Image
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Services & Industrials, Industrial Services | Piper Sandler served as sell-side advisor for Surface Preparation Technologies, a portfolio company of Dominus Capital, on its sale to Frontline Road Safety Group, a portfolio company of Bain Capital | Surface Preparation Technologies, a portfolio company of Dominus Capital, has been acquired by Frontline Road Safety Group, a portfolio company of Bain Capital | Financial Advisor | |
| Published | 12/30/2025 | Flushing Financial Corporation | Mergers & Acquisitions | Sell-Side | $579.0 Million | Image
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Financial Services, Depositories | Piper Sandler served as sell-side advisor for Flushing Financial Corporation on its announced merger with OceanFirst Financial Corporation | Flushing Financial Corporation has agreed to merge with OceanFirst Financial | Financial Advisor |
| Published | 12/30/2025 | SWNB Bancorp, Inc. | Debt Capital Markets, Debt Capital Markets - Depositories, Real Estate & Financial Services | Subordinated Notes | $25.0 Million | Image
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Financial Services, Depositories | Piper Sandler served as sole placement agent for SWNB Bancorp, Inc. on its subordinated notes offering | Subordinated Notes | Sole Placement Agent |
| Published | 12/29/2025 | Howard Hughes Corporation | Mergers & Acquisitions | Buy-Side | $2.1 Billion | Image
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Financial Services, Real Estate | Piper Sandler served as buy-side advisor for the Financing Committee of the Board of Directors of Howard Hughes Holdings Inc. on its announced acquisition of Vantage Group Holdings Ltd. | Howard Hughes Corporation has agreed to acquire Vantage Group | Financial Advisor |
| Published | 12/23/2025 | MB Bancorp, Inc. | Debt Capital Markets, Debt Capital Markets - Depositories, Real Estate & Financial Services | Subordinated Notes | $45.0 Million | Image
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Financial Services, Depositories | Piper Sandler served as sole placement agent for MB Bancorp, Inc. on its subordinated notes offering | Subordinated Notes | Sole Placement Agent |
| Published | 12/23/2025 | Valor Fleet Services | Mergers & Acquisitions | Sell-Side | Image
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Services & Industrials, Automotive Aftermarket | Piper Sandler served as sell-side advisor for Valor Fleet Services, a portfolio company of Full Guard Capital, on its sale to Tailwind Capital | Valor Fleet Services, a portfolio company of Full Guard Capital, has been acquired by Tailwind Capital | Financial Advisor | |
| Published | 12/23/2025 | Perennial Services Group | Mergers & Acquisitions | Sell-Side | Image
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Services & Industrials, Residential Services | Piper Sandler served as financial advisor for Perennial Services Group, a portfolio company of Tenex Capital Management, on its recapitalization by Brentwood Associates | Perennial Services Group, a portfolio company of Tenex Capital Management, has been recapitalized by Brentwood Associates | Financial Advisor | |
| Published | 12/22/2025 | Western Capital Corporation | Debt Capital Markets, Debt Capital Markets - Depositories, Real Estate & Financial Services | Senior Notes | $55.0 Million | Image
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Financial Services, Depositories | Piper Sander served as sole placement agent for Western Capital Corporation on its senior notes offering | Senior Notes | Sole Placement Agent |
| Published | 12/22/2025 | California Pizza Kitchen | Mergers & Acquisitions | Sell-Side | Image
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Consumer, Restaurants | Piper Sandler served as sell-side advisor for California Pizza Kitchen on its sale to Consortium Brand Partners in partnership with Aurify Brands and Convive Brands, a portfolio company of Eldridge Industries | California Pizza Kitchen has been acquired by Consortium Brand Partners in partnership with Aurify Brands and Convive Brands, a portfolio company of Eldridge Industries | Financial Advisor | |
| Published | 12/19/2025 | Steward Partners | Mergers & Acquisitions | Sell-Side | $475.0 Million | Image
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Financial Services, Asset & Wealth Management | Piper Sandler served as sell-side advisor for Steward Partners on a strategic investment from Ares Capital Corporation | Steward Partners has received a strategic investment from Ares | Financial Advisor |
| Published | 12/19/2025 | Alpha 2 | Mergers & Acquisitions | Sell-Side | Image
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Technology, Defense & Government | Piper Sandler served as sell-side advisor for Alpha 2 on it's sale to Aurex, a Godspeed Capital company | Alpha 2 has been acquired by Aurex, a Godspeed Capital company | Financial Advisor | |
| Published | 12/19/2025 | Medline Industries | Equity Capital Markets | IPO | $7.3 Billion | Image
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Healthcare, Med-Tech | Piper Sandler served as bookrunner for Medline on its IPO | Initial Public Offering | Passive Bookrunner |
| Published | 12/17/2025 | Heritage Commerce Corp | Mergers & Acquisitions | Sell-Side | $811.0 Million | Image
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Financial Services, Depositories | Piper Sandler served as sell-side advisor for Heritage Commerce Corp on its announced merger with CVB Financial Corp. | Heritage Commerce Corp has agreed to merge with CVB Financial Corp. | Financial Advisor |
| Published | 12/17/2025 | Greenray Energy Solutions Group | Mergers & Acquisitions | Sell-Side | Image
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Energy, Power & Infrastructure, Energy & Power Services & Equipment | Piper Sandler served as sell-side advisor for Greenray Energy Solutions Group on its sale to Flowserve Corporation | Greenray Energy Solutions has been acquired by Flowserve Corporation | Financial Advisor | |
| Published | 12/17/2025 | United Security Bancshares | Mergers & Acquisitions | Sell-Side | $192.0 Million | Image
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Financial Services, Depositories | Piper Sandler served as sell-side advisor for United Security Bancshares on its announced merger with Community West Bancshares | United Security Bancshares has agreed to merge with Community West Bancshares | Financial Advisor |
| Published | 12/15/2025 | Customers Bancorp, Inc. | Debt Capital Markets, Debt Capital Markets - Depositories, Real Estate & Financial Services | Subordinated Notes | $100.0 Million | Image
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Financial Services, Depositories | Piper Sandler served as bookrunner for Customers Bancorp, Inc. on its subordinated notes offering | Subordinated Notes | Joint Bookrunner |
| Published | 12/12/2025 | Financial Institutions, Inc. | Debt Capital Markets | Subordinated Notes | $80.0 Million | Image
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Financial Services, Depositories | Piper Sandler served as sole placement agent for Financial Institutions, Inc. on its subordinated notes offering | Subordinated Notes | Sole Placement Agent |
| Published | 12/12/2025 | Flatiron Search Partners | Mergers & Acquisitions | Sell-Side | Image
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Services & Industrials, Business Services | Piper Sandler served as sell-side advisor for Flatiron Search Partners on its sale to Nonantum Capital Partners | Flatiron Search Partners has been acquired by Nonantum Capital Partners | Financial Advisor |
Piper Sandler acquired TRS Advisors on 12/31/2020, Stamford Partners on 6/13/2022, DBO Partners on 10/10/2022, Aviditi Advisors on 8/23/2024 and G Squared Capital Partners on 9/12/2025, transactions completed prior were executed by the respective firm.