Warburg Pincus entities disclose 19.6% stake in OceanFirst Financial
Warburg Pincus entities collectively disclosed beneficial ownership of 19.6% of OceanFirst Financial Corp. following a closing of an investment agreement. The investment included common stock, non-voting convertible preferred stock (NVCE Stock), and warrants exercisable at $19,760 per share. Warburg Pincus secured the right to nominate one director to OceanFirst's board, subject to maintaining at least 5% ownership, and is subject to standstill obligations during the director rights period.
Key facts
- Warburg Pincus Reporting Persons collectively own 19.6% of OceanFirst Financial Corp.
- Aggregate shares owned: 19,287,639 shares across all Warburg Pincus entities
- Warrants exercise price: $19,760 per share
- Warrant term: seven years
- Voluntary warrant exercise permitted after the third anniversary of Closing
- Todd Schell (Principal in WP LLC's Financial Services group) appointed as director representative
- Board representation right continues so long as Investors own at least 5% of outstanding Common Stock (on an as-converted basis)
- Investors subject to standstill obligations during Director Rights Period
- Warrants mandatory exercise if market price reaches or exceeds $30 per share for specified trading days
Why it matters
Warburg Pincus' nearly 20% stake, board seat, and registration rights establish it as a significant shareholder in OceanFirst Financial with governance influence and liquidity optionality through registered resale.
Share
Get the next chapter in your inbox — a Sentinel watches this company and briefs the next material filing the moment it lands.
Derived from SCHEDULE 13D filed 2026-06-08. Not investment advice. View the source filing on SEC.gov →