Camden National Corp. announced Friday, Sept. 11, the deadline for common stockholders and holders of restricted stock units with respect to shares of common stock of SBM Financial Inc. to elect the form of consideration that they wish to receive in Camden’s pending merger with SBM. The acquisition remains subject to customary closing conditions. The merger is expected to close Friday, Oct. 16.

SBM common stockholders who wish to elect to receive Camden common stock, cash or a combination of stock and cash, in exchange for their shares of SBM common stock must deliver a properly completed Letter of Election and Transmittal, together with their SBM stock certificate(s), to American Stock Transfer & Trust Co.  prior to 5 p.m. Eastern time Tuesday, Oct. 6.

Under the terms of the Agreement and Plan of Merger, dated as of March 29, all restricted stock units with respect to shares of SBM common stock that are outstanding immediately prior to the effective time of the merger of SBM and Camden, will vest and be converted to the right to receive merger consideration. Holders of SBM RSUs who wish to elect to receive Camden common stock, cash, or a combination of stock and cash, in exchange for their vested SBM RSUs must deliver a properly completed Letter of Election to AST prior to 5 p.m. Eastern time Tuesday, Oct. 6.

Election materials were to be mailed on or about Friday, Sept. 11, to holders of record of SBM common stock and restricted stock units at the close of business on Friday, Sept. 4.

Under the terms of the Merger Agreement, each outstanding share of SBM common stock (including vested SBM RSUs) will be converted into the right to receive, at the election of the stockholder and subject to the allocation and proration procedures described in the merger agreement, either: (1) $206 in cash, without interest or (2) 5.421 shares of common stock of Camden. All elections are subject to the allocation and proration procedures set forth in the Merger Agreement,

Stockholders with questions regarding the election materials or who wish to obtain copies of the election materials should contact AST at 877-248-6417.