Sunday, February 19, 2012 12:52:46 AM
Thursday, July 8, 9:22 AM Sun Bancorp (SNBC) says investor Wilbur Ross and the company's founding Brown family will buy $100M of common and preferred stock, equal to a 24.9% stake. The deal was done at $4 a share; Sun's common shares closed yesterday at $3.59.
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Considering it's Wilbur Ross (WR) were talking about and he has a 24.9% stake that he paid $4 @ share to get, Fridays' closing price of $2.96 on Feb. 18, 2012 is an excellent entry price going forward. Matching or even beating WR's entry price by over 25% is a golden opportunity that's hard to overlook.
Learn something new every time you invest...and take it with you to the next opportunity.
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