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Friday, December 8, 2017

Equity Corporate Actions Alert #2017 - 86
Information Regarding the Merger of Sun Bancorp, Inc. (SNBC)

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  • Industry Announcement

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At a meeting held on Tuesday, October 24, 2017, shareholders of Sun Bancorp, Inc. (SNBC) voted to approve the proposed merger with OceanFirst Financial Corp. (OCFC). The merger is anticipated to become effective on Wednesday, January 31, 2017, pending the completion of the closing. The details are as follows:

Company: Sun Bancorp, Inc.
Issue: Common Stock
CUSIP Number: 86663B201
Symbol: SNBC
Anticipated Marketplace Effective Date for Suspension: February 1, 2018
Merger Consideration: $3.78 & .7884 shs of OCFC for each share held, subject to election and proration.

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