secwatch.observer — SEC 8-K summary
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Issuer:     FIRSTSUN CAPITAL BANCORP (FSUN)
CIK:        0001709442
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001552781-24-000253
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FirstSun and HomeStreet amend merger terms; capital raise up to $235M, exchange ratio reduced to 0.3867
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- Capital raise increased from $175M to up to $235M; Wellington leads additional $45M to $60M equity investment.
- Exchange ratio reduced from 0.4345 to 0.3867, valuing HomeStreet at $13.53 per share based on April 29 close.
- Termination fee payable by HomeStreet cut from $10M to $2.6M plus expenses if competing bid within 30 days.
- Bank merger restructured: Sunflower Bank to convert to Texas state charter; OCC app withdrawn, replaced by Fed and Texas approvals.
- FirstSun to issue $48.5M subordinated debt; HomeStreet to sell ~$300M CRE loans post-close.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1709442/000155278124000253/0001552781-24-000253-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1709442/000155278124000253/e24212_fsun-8k.htm
  HTML page:      https://secwatch.observer/filing/0001552781-24-000253

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