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SUN BANCORP INC /NJ/ FILES (8-K) Disclosing Unregistered Sale of Equity Securities

August 18, 2014

Item 3.02. Unregistered Sales of Equity Securities.

On August 14, 2014, Sun Bancorp, Inc. (the "Company") entered into securities purchase agreements with certain institutional investors in connection with a private placement of an aggregate of 1,133,144 shares of common stock, par value $5.00 per share, at a purchase price of $17.65 per share, or $19,999,991.60 in the aggregate. The transactions are expected to close on August 21, 2014, subject to the satisfaction of customary closing conditions. The issuance and sale of the Shares is exempt from registration under the Securities Act of 1933, as amended (the "Act"), pursuant to Section 4(2) of the Act.


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Source: Edgar Glimpses

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