Investment Banking Transactions

	Date	Client	Type	Sub-Type	Amt.	Logo	Sector/Sub-Sector	Description	Tombstone Description	PSC Role
Published	12/31/2025	Trapelo Health	Mergers & Acquisitions	Sell-Side		Image Image	Healthcare, Information-Driven Healthcare	Piper Sandler served as the exclusive sell-side advisor for Trapelo Health on its sale to SunPay, LLC	Trapelo Health has been acquired by SunPay, LLC	Financial Advisor
Published	12/31/2025	Pillr Health	Mergers & Acquisitions	Sell-Side		Image Image Image	Healthcare, Information-Driven Healthcare	Piper Sandler served as exclusive sell-side advisor for Pillr Health, a portfolio company of Renovus Capital Partners, on its sale to Water Street Healthcare Partners	Pillr Health, a portfolio company of Renovus Capital Partners, has been acquired by Water Street Healthcare Partners	Financial Advisor
Published	12/31/2025	ReVamp Companies	Mergers & Acquisitions	Sell-Side		Image Image Image	Services & Industrials, Residential Services	Piper Sandler served as sell-side advisor for ReVamp Companies, a portfolio company of Bertram Capital, on its sale to Calera Capital	ReVamp Companies, a portfolio company of Bertram Capital, has been acquired by Calera Capital	Financial Advisor
Published	12/31/2025	CRS TH Holdings	Mergers & Acquisitions	Sell-Side		Image Image Image	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	PureSpectrum	Mergers & Acquisitions	Sell-Side		Image Image Image	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	12/30/2025	Emerald Textiles	Mergers & Acquisitions	Sell-Side		Image Image Image Image	Services & Industrials, Industrial Services	Piper Sandler served as sell-side advisor for Emerald Textiles, a portfolio company of Pacific Avenue Capital Partners, on its sale to PureStar, a portfolio company of Cornell Capital	Emerald Textiles, a portfolio company of Pacific Avenue Capital, has been acquired by PureStar, a portfolio company of Cornell Capital	Financial Advisor
Published	12/30/2025	Flushing Financial Corporation	Mergers & Acquisitions	Sell-Side	$579.0 Million	Image Image	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	Subordinated Notes	$25.0 Million	Image	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 Image	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	Perennial Services Group	Mergers & Acquisitions	Sell-Side		Image Image Image	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	12/23/2025	Valor Fleet Services	Mergers & Acquisitions	Sell-Side		Image Image Image	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	Femasys	Equity Capital Markets	At the Market Offering	$9.8 Million	Image	Healthcare, Med-Tech	Piper Sandler served as sole placement agent for Femasys on an ATM offering	ATM Program Common Stock	Sole Placement Agent
Published	12/23/2025	MB Bancorp, Inc.	Debt Capital Markets	Subordinated Notes	$45.0 Million	Image	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	12/22/2025	California Pizza Kitchen	Mergers & Acquisitions	Sell-Side		Image Image Image Image	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	12/22/2025	Annaly Capital Management	Equity Capital Markets	At the Market Offering	$2.5 Billion	Image	Financial Services, Specialty Finance	Piper Sandler served as sole placement agent for Annaly Capital Management on an ATM offering	ATM Program Common Stock	Sole Placement Agent
Published	12/22/2025	Western Capital Corporation	Debt Capital Markets	Senior Notes	$55.0 Million	Image	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	12/19/2025	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	12/18/2025	Varsity Healthcare Partners	Mergers & Acquisitions	Buy-Side		Image Image	Healthcare, Information-Driven Healthcare	Piper Sandler served as exclusive financial advisor for Varsity Healthcare Partners on its majority recapitalization of Trialbee	Trialbee has been acquired by Varsity Healthcare Partners	Financial Advisor