Investment Banking Transactions

	Date	Client	Type	Sub-Type	Amt.	Logo	Sector/Sub-Sector	Description	Tombstone Description	PSC Role
Published	10/27/2025	Xylem Kendall	Mergers & Acquisitions	Strategic Advisory		Image Image	Services & Industrials, Industrial Services	Piper Sandler served as financial advisor for Sterling Investment Partners on the closing of a single-asset continuation vehicle recapitalization of XKIG	Sterling Investment Partners has placed XKIG in a single-asset continuation vehicle	Financial Advisor
Published	10/23/2025	MidwestOne Financial Group	Mergers & Acquisitions	Sell-Side	$864.0 Million	Image Image	Financial Services, Depositories	Piper Sandler served as financial advisor for MidWestOne Financial Group, Inc. on its announced merger with Nicolet Bankshares, Inc.	MidWestOne Financial Group, Inc. has agreed to merge with Nicolet Bankshares, Inc.	Financial Advisor
Published	10/23/2025	Potbelly Corporation	Mergers & Acquisitions	Take Private	$566.0 Million	Image Image	Consumer, Restaurants	Piper Sandler served as exclusive financial advisor to Potbelly Corporation on its sale to RaceTrac	Potbelly has been acquired by RaceTrac	Financial Advisor
Published	10/22/2025	Tamboran Resources	Equity Capital Markets	CMFO		Image	Energy, Power & Infrastructure, Upstream	Piper Sandler served as co-manager for Tamboran Resources on its CMFO	Confidentially Marketed Follow-On Offering	Co-Manager
Published	10/20/2025	HBT Financial	Mergers & Acquisitions	Buy-Side	$170.0 Million	Image Image	Financial Services, Depositories	Piper Sandler served as buy-side advisor for HBT Financial, Inc. on its announced acquisition of CNB Bank Shares, Inc.	HBT Financial has agreed to acquire CNB Bank Shares, Inc.	Financial Advisor
Published	10/17/2025	Inky Technology	Mergers & Acquisitions	Sell-Side		Image Image	Technology, Security	Piper Sandler served as sell-side advisor for Inky Technology on its sale to Kaseya	Inky Technology has been acquired by Kaseya	Financial Advisor
Published	10/16/2025	Decatur Bancshares	Equity Capital Markets	Subordinated Notes	$10.0 Million	Image	Financial Services, Depositories	Piper Sandler served sole placement agent for Decatur Country Bank on its subordinated notes offering	Subordinated Notes	Sole Placement Agent
Published	10/16/2025	Bank or Montreal	Mergers & Acquisitions	Division Carve Out		Image Image	Financial Services, Depositories	Piper Sandler served as financial advisor for Bank of Montreal on its announced branch sale to First Citizens Bancshares	Bank of Montreal has agreed to sell 138 branches to First Citizens Bank	Financial Advisor
Published	10/16/2025	Praxis Precision Medicines	Equity Capital Markets	CMFO	$603.8 Million	Image	Healthcare, Biopharma	Piper Sandler served as bookrunner for Praxis Precision Medicines on its CMFO	Confidentially Marketed Follow-On Offering	Active Bookrunner
Published	10/15/2025	Adagio Medical Inc.	Equity Capital Markets	PIPE	$50.0 Million	Image	Healthcare, Med-Tech	Piper Sandler served as placement agent for Adagio Medical on its PIPE offering	PIPE	Sole Placement Agent
Published	10/15/2025	Fulcrum Asset Management	Mergers & Acquisitions	Sell-Side		Image Image	Financial Services, Asset & Wealth Management	Piper Sandler served as sell-side advisor for Fulcrum Asset Management on its strategic Investment from Fidante Partners	Fulcrum Asset Management has agreed to a strategic investment from Fidante	Financial Advisor
Published	10/15/2025	FoxPath Capital Partners	Mergers & Acquisitions	Strategic Advisory		Image Image	Financial Services, Asset & Wealth Management	Piper Sandler served as financial advisor for FoxPath Capital Partners on its strategic partnership with Reinsurance Group of America	FoxPath Capital Partners has received a strategic investment from RGA	Financial Advisor
Published	10/14/2025	Inventiva	Equity Capital Markets	At the Market Offering	$100.0 Million	Image	Healthcare, Biopharma	Piper Sandler served as sole agent for Inventiva on an ATM offering	ATM Program Common Stock	Sole Sales Agent
Published	10/09/2025	Bamboo Ide8 Insurance Services	Debt Capital Markets - Depositories, Real Estate & Financial Services, Mergers & Acquisitions	Sell-Side		Image Image Image	Financial Services, Insurance	Piper Sandler served as financial advisor for Bamboo Idea8 Insurance, a portfolio company of White Mountains Insurance Group, on its sale to CVC Capital Partners	White Mountains Insurance Group has sold Bamboo Idea8 Insurance Services to CVC Capital Partners	Sole Placement Agent
Published	10/09/2025	Midwest BankCentre	Financing, Debt Capital Markets - Depositories, Real Estate & Financial Services	Subordinated Notes	$50.0 Million	Image	Financial Services, Depositories	Piper Sandler served as lead placement agent for Midwest BankCentre on its subordinated notes offering	Subordinated Notes	Lead Placement Agent
Published	10/07/2025	Esperion Therapeutics	Equity Capital Markets	CMFO	$75.0 Million	Image	Healthcare, Biopharma	Piper Sandler served as bookrunner for Esperion Therapeutics, Inc. on its CMFO	Confidentially Marketed Follow-On Offering	Lead Bookrunner
Published	10/02/2025	Criterion	Mergers & Acquisitions	Sell-Side		Image Image	Technology, Software	Piper Sandler served as sell-side advisor for Criterion on its sale to The Sage Group	Criterion has been acquired by The Sage Group	Financial Advisor
Published	10/02/2025	Neptune Flood Insurance	Equity Capital Markets	IPO	$368.4 Million	Image	Financial Services, Technology, Software	Piper Sandler served as bookrunner for Neptune Flood Insurance on its IPO	Initial Public Offering	Joint Bookrunner
Published	10/01/2025	Diamondback Energy	Mergers & Acquisitions	Sell-Side		Image Image	Energy, Power & Infrastructure, Energy & Power Infrastructure	Piper Sandler served as sell-side advisor for Diamondback Energy on the sale of its Environmental Disposal Systems LLC to Deep Blue Midland Basin	Diamondback Energy has sold its Environmental Disposal Systems LLC to Deep Blue Midland Basin	Financial Advisor
Published	10/01/2025	Unit Corporation	Mergers & Acquisitions	Sell-Side	$120.0 Million	Image Image Image	Energy, Power & Infrastructure, Energy & Power Infrastructure, Energy & Power Services & Equipment	Piper Sandler served as financial advisor for Unit Corporation on its definitive agreement to sell its wholly-owned contract drilling subsidiary, Unit Drilling Company, to Cactus Drilling Company	Unit Drilling Company a wholly-owned subsidiary of Unit Corporation has been acquired by Cactus Drilling Company	Financial Advisor