NewStar Financial, a provider of customized debt financing to mid-sized businesses and specialty finance firms, priced 12 million shares (one million more than expected) at $17, the high end of its proposed $15-$17 range. The Boston, MA based company, which was founded in 2004 by two lending executives from FleetBoston and JPMorgan, and has been rapidly growing its loan portfolio by catering to mid-market customers that are typically underserved by the major commercial lenders. Goldman Sachs, Morgan Stanley, Citigroup and Wachovia Securities served as lead underwriters on the deal. The stock is expected to open for trading on Thursday under the symbol "NEWS" on the Nasdaq.
