Investment Banking Transactions

	Date	Client	Type	Sub-Type	Amt.	Logo	Sector/Sub-Sector	Description	Tombstone Description	PSC Role
Published	12/19/2025	Medline Industries	Equity Capital Markets	IPO	$7.3 Billion	Image	Healthcare, Med-Tech	Piper Sandler served as bookrunner for Medline on its IPO	Initial Public Offering	Passive Bookrunner
Published	12/19/2025	Alpha 2	Mergers & Acquisitions	Sell-Side		Image Image Image	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	Steward Partners	Mergers & Acquisitions	Sell-Side	$475.0 Million	Image Image	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	12/17/2025	Greenray Energy Solutions Group	Mergers & Acquisitions	Sell-Side		Image	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 Image	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	12/17/2025	Heritage Commerce Corp	Mergers & Acquisitions	Sell-Side	$811.0 Million	Image Image	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	12/15/2025	Customers Bancorp, Inc.	Debt Capital Markets	Subordinated Notes	$100.0 Million	Image	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	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 Image	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
Published	12/11/2025	Miami International Holdings, Inc.	Equity Capital Markets	Follow-On Offering		Image	Financial Services, FinTech	Piper Sandler served as bookrunner for Miami International Holdings, Inc. on its follow-on offering	Follow-On Offering	Active Bookrunner
Published	12/11/2025	Tenaya Therapeutics	Equity Capital Markets	CMFO		Image	Healthcare, Biopharma	Piper Sandler served as bookrunner for Tenaya Therapeutics on its CMFO	Confidentially Marketed Follow-On Offering	Active Bookrunner
Published	12/11/2025	USA Industries	Mergers & Acquisitions	Sell-Side		Image Image Image	Energy, Power & Infrastructure, Energy & Power Services & Equipment	Piper Sandler served as sell-side advisor for USA Industries, a portfolio company of Sky Island Capital, on its sale to Levine Leichtman Capital Partners	USA Industries, a portfolio company of Sky Island Capital, has been acquired by Levine Leichtman Capital Partners	Financial Advisor
Published	12/11/2025	EMC National Life Insurance	Mergers & Acquisitions	Division Carve Out		Image Image Image Image	Financial Services, Insurance	Piper Sandler served as financial advisor for EMC Insurance on its announced sale of its Life Insurance Business to Avocet Partners with a significant investment by Oaktree Capital Management and Lane42	EMC Insurance has announced the sale of its Life Insurance Business to Avocet Partners, with a significant investment by Oaktree Capital Management and Lane42	Financial Advisor
Published	12/11/2025	Grasshopper Bank	Mergers & Acquisitions	Fairness Opinion	$369.0 Million	Image Image	Financial Services, Depositories, Specialty Finance	Piper Sandler served as financial advisor for Grasshopper Bank on its announced sale to Enova International	Grasshopper Bank has agreed to be acquired by Enova International	Financial Advisor
Published	12/10/2025	SILAC	Mergers & Acquisitions	Sell-Side		Image Image	Financial Services, Insurance	Piper Sandler served as sell-side advisor for SILAC on its announced sale to Hildene Capital Management	SILAC has agreed to be acquired by Hildene Capital Management	Financial Advisor
Published	12/10/2025	Northpointe Bancshares, Inc.	Debt Capital Markets	Subordinated Notes	$70.0 Million	Image	Financial Services, Depositories	Piper Sandler served as lead placement agent for Northpointe Bancshares Inc. on its subordinated notes offering	Subordinated Notes	Sole Placement Agent
Published	12/09/2025	WSFS Financial Corporation	Debt Capital Markets	Senior Notes	$200.0 Million	Image	Financial Services, Depositories	Piper Sandler served as lead left book-running manager for WSFS Financial Corporation on its senior notes offering	Senior Notes	Left Bookrunner
Published	12/08/2025	Protara Therapeutics	Equity Capital Markets	CMFO	$75.0 Million	Image	Healthcare, Biopharma	Piper Sandler served as bookrunner for Protara Therapeutics on its CMFO	Confidentially Marketed Follow-On Offering	Active Bookrunner
Published	12/08/2025	Mountain Commerce Bancorp	Mergers & Acquisitions	Sell-Side	$150.1 Million	Image Image	Financial Services, Depositories	Piper Sandler served as sell-side advisor for Mountain Commerce Bancorp on its announced merge with Home Bancsahres, Inc.	Mountain Commerce Bancorp has agreed to merge with Associated Banc-Corp	Financial Advisor
Published	12/08/2025	Ancala Partners	Mergers & Acquisitions	Buy-Side		Image Image Image	Chemicals	Piper Sandler served as buy-side advisor for Ancala Partners on its acquisition of Valentra from Hexion	Ancala has acquired Valentra from Hexion	Financial Advisor