Sun Bancorp Inc. in Vineland, N.J., said it raised about $81 million in net proceeds from a recent public offering.

The $3.4 billion-asset company said Tuesday in a press release that it sold 28.75 million shares of common stock at $3 a share. The offering included all shares set aside for additional demand.

Sun's three biggest shareholders and private-equity investors — WL Ross & Co., Siguler Guff and the Brown family — bought about 10.2 million of the shares, the company said.

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