Transaction Details

Dayton Regional STEM School

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Expanding STEM-Focused Education Capabilities in Ohio

Dayton Regional STEM School located in Kettering, Ohio was founded in 2009 serving 76 students in ninth grade as the first STEM designated regional, public, independent STEM school in Ohio as established in state statutes. Since then, the student population has grown to 790, and the campus has expanded by repurposing a vacant shopping plaza into an innovative learning lab serving grades 6-12. The mission of the Dayton Regional STEM School is to prepare and inspire the next generation of leaders and innovators.

With increasing demand for STEM-focused education and STEM professionals within the Dayton region and State of Ohio, Dayton Regional STEM School was interested to expand its grade offerings to include an elementary school. As such, Dayton Regional STEM School needed funding to finance their expansion efforts in constructing a new K-5 facility. This new facility will be located adjacent to the long established 6-12 campus, in what is currently vacant land within the Miami Valley Research Park. The new facility will be approximately 60,000 square feet in size, serving 400 students and is scheduled for completion in Fall 2025.

Given the unique nature of a STEM designated 501(c)(3) non-profit independent school, Baird’s Columbus Ohio office collaborated with the firm’s National Charter School Finance team to serve as sole managing underwriter on the $21,500,000 Baa3 rated financing for Dayton Regional STEM School. Baird’s salesforce received significant interest from institutional investors and the bond sale finalized with participation from 17 unique investors purchasing the Series 2024 Bonds. Baird was able to conduct an aggressive reprice based on investor demand driven by Baird’s extensive premarketing efforts, lower the yields from 5 basis points (0.05%) to basis points (0.12%), based upon demand in specific maturities