Exhibit: Millunchick Settlement Notice — Wax v. Cross River

Record facts

U.S. District Court for the District of New Jersey · No. 2:24-cv-09510-ES-JRA · Doc. 40-2 · 2025-07-25 · Docket on CourtListener

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UNITED STATES DISTRICT COURT 
SOUTHERN DISTRICT OF NEW YORK 
MATTHEW MILLUNCHICK and MIKE 
MARGENT, Individually and on Behalf of 
All Others Similarly Situated, 
Plaintiffs, 
-against- 
SUNLIGHT FINANCIAL HOLDINGS, INC. 
f/k/a/ SPARTAN ACQUISITION CORP. II, 
MATTHEW POTERE, BARRY 
EDINBURG, RODNEY YODER, 
GEOFFREY STRONG, JAMES CROSSEN, 
OLIVIA WASSENAAR, WILSON 
HANDLER, CHRISTINE HOMMES, 
JOSEPH ROMEO, and SPARTAN 
ACQUISITION SPONSOR II LLC, 
Defendants. 
 
Case No.: 1:22-cv-10658-AKH 
 
CLASS ACTION 
 
NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION 
If you: (a) purchased the publicly-traded common stock of Sunlight Financial Holdings, Inc. (“Sunlight”) 
between January 25, 2021 and September 28, 2022, both dates inclusive (the “Class Period”); and/or (b) 
beneficially owned and/or held the common stock of Spartan Acquisition Corp. II (“Spartan”) as of June 
1, 2021 and were eligible to vote at Spartan’s July 8, 2021 special meeting, you could get a payment from 
a class action settlement (the “Settlement”). 
A federal court has authorized this Notice.  This is not attorney advertising. 
x If approved by the Court, the Settlement will provide three million five hundred thousand dollars 
($3,500,000) (the “Settlement Fund”) gross, plus interest as it accrues, minus attorneys’ fees, costs, 
administrative expenses, and net of any taxes on interest, to pay claims of investors who purchased 
publicly-traded Sunlight common stock during the Class Period and/or beneficially owned and/or 
held Spartan common stock as of June 1, 2021 and were eligible to vote at Spartan’s July 8, 2021 
special meeting. 
x The Settlement represents an estimated average recovery of $0.14 per share of common stock for 
the 24.1 million shares of Sunlight common stock allegedly damaged during the Class Period. 
Settlement Class Members may recover more or less than this amount depending on, among other 
factors, the aggregate losses of all Settlement Class Members, the total number and amount of 
claims filed, when and the price at which their shares were purchased, whether the shares were 
sold, and if so, when they were sold and for how much.   
x Lead Counsel will ask the Court to award attorneys’ fees in an amount not to exceed 29% of the 
Settlement Fund, reimbursement of no more than $58,000 in litigation expenses, and a total case 
contribution award to Plaintiffs not to exceed $6,000.  Lead Plaintiff will share a portion of the 
attorneys’ fees awarded with Additional Counsel for Plaintiffs (the law firm of Glancy Prongay & 
Murray LLP). Collectively, the attorneys’ fees and expenses and Plaintiffs’ award are estimated 
not to exceed an average of $0.03 per share of common stock damaged during the Class Period. If 
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approved by the Court, these amounts will be paid from the Settlement Fund.  The Court will 
review the application for attorneys’ fees, expenses, and award to Plaintiffs at the Settlement 
Fairness Hearing and determine the amounts that are reasonable and appropriate.   
x The average approximate recovery, after deduction of attorneys’ fees and expenses and award to 
Plaintiffs approved by the Court, is $0.11 per share of common stock damaged during the Class 
Period. This estimate is based on the assumptions set forth in the preceding paragraphs. This is not 
an estimate of the actual recovery per share Settlement Class Members should expect. Each 
Settlement Class Member’s actual recovery will depend on, among other factors, the aggregate 
losses of all Settlement Class Members, the total number and amount of claims filed, when and 
the price at which their shares were purchased, whether the shares were sold, and if so, when they 
were sold and for how much.   
x The Settlement resolves Plaintiffs’ allegations, brought under Sections 10(b), 14(a), and 20(a) of 
the Securities Exchange Act of 1934, that Defendants made false and misleading statements 
concerning Sunlight’s due diligence process for its contractor partners.  Specifically, Plaintiffs 
alleged that Sunlight gave substantial amounts of cash advances to its contractor partners without 
conducting the type of due diligence that it claimed to conduct. Plaintiffs alleged that as a result, 
there was a heightened risk that one or more of Sunlight’s contractor partners could default on 
Sunlight’s cash advances, and alleged that this risk eventually transpired when one of Sunlight’s 
largest contractor partners defaulted and went into bankruptcy.  Defendants denied and continue 
to deny, among other things, the allegations that they misrepresented Sunlight’s due diligence for 
its contractor partners, that Plaintiffs or the Settlement Class have suffered damages, or that 
Plaintiffs or the Settlement Class were harmed by the conduct alleged in the Action. Defendants 
believe Plaintiffs’ allegations are without merit, and have denied and continue to deny all 
allegations of wrongdoing, fault, liability or damage.  
x Your legal rights will be affected whether you act or do not act. If you do not act, you may 
permanently forfeit your right to any recovery. Therefore, you should read this Notice carefully. 
YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT 
Submit a Claim Form Fill out the attached Proof of Claim and Release Form and submit it no later than 
November 19, 2024. This is the only way to get a payment.  
Exclude Yourself 
from the Class 
Submit a request for exclusion no later than November 19, 2024. This is the only 
way you can ever be part of any other lawsuit against the Defendants or other 
Released Defendant Parties relating to the legal claims in this case. If you exclude 
yourself, you will receive no payment and cannot object or speak at the hearing. 
Object 
Write to the Court no later than November 19, 2024, about why you do not like the 
Settlement. You can still submit a Proof of Claim and Release Form. If the Court 
approves the Settlement, you will be bound by it.
Go to the Hearing 
Ask to speak in Court about the fairness of the Settlement no later than November 
19, 2024 at the hearing on December 10, 2024. You can still submit a Proof of 
Claim and Release Form. If the Court approves the Settlement, you will be bound by 
it. 
Do Nothing 
Get no payment AND give up your right to bring your own individual action 
relating to the claims asserted in the Action.  
 
 
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INQUIRIES 
Please do not contact the Court regarding this Notice. All inquiries concerning this Notice, the Proof 
of Claim and Release Form, or the Settlement should be directed to: 
Claims Administrator 
Sunlight Financial Holdings, Inc.  
Securities Litigation 
c/o Strategic Claims Services 
P.O. Box 230 
600 N. Jackson Street, Suite 205 
Media, PA 19063 
Tel.: (866) 274-4004  
Fax: (610) 565-7985   
info@strategicclaims.net 
or 
Lead Counsel 
Yu Shi 
THE ROSEN LAW FIRM, P.A. 
275 Madison Avenue, 40th Floor 
New York, NY 10016 
Tel: (212) 686-1060 
Fax: (212) 202-3827 
yshi@rosenlegal.com 
 
DEFINITIONS 
All capitalized terms not otherwise defined herein shall have the same meanings as set forth in the 
Stipulation of Settlement, dated August 8, 2024 (the “Settlement Stipulation”). 
COMMON QUESTIONS AND ANSWERS CONCERNING THE SETTLEMENT 
1. 
Why did I get this Notice? 
You or someone in your family may have (a) purchased the publicly-traded common stock of 
Sunlight between January 25, 2021 and September 28, 2022, both dates inclusive, and/or (b) 
beneficially owned and/or held the common stock of Spartan as of June 1, 2021 and were eligible 
to vote at Spartan’s July 8, 2021 special meeting. 
2. 
What is this lawsuit about? 
The case is known as Fung v. Sunlight Financial Holdings Inc., et al., Case No. 1:22-cv-10658-
AKH (the “Action”). The Court in charge of the case is the United States District Court for the 
Southern District of New York. 
The Action involves allegations that Defendants made false and misleading statements concerning 
Sunlight’s due diligence process for its contractor partners, in violation of the federal securities 
laws. Specifically, Plaintiffs alleged that Sunlight gave substantial amounts of cash advances to its 
contractor partners without conducting the type of due diligence that it claimed to conduct. 
Plaintiffs alleged that as a result, there was a heightened risk that one or more of Sunlight’s 
contractor partners could default on Sunlight’s cash advances, and alleged that this risk eventually 
transpired when one of Sunlight’s largest contractor partners defaulted and went into bankruptcy.   
Defendants have denied and continue to deny all allegations of wrongdoing, fault, liability or 
damage whatsoever asserted in the Action. The Settlement shall in no event be construed as, or 
deemed to be evidence of, liability, fault, wrongdoing, injury or damages, or of any wrongful 
conduct, acts or omissions on the part of any of the Released Defendant Parties, or of any infirmity 
of any defense, or of any damages to Plaintiffs or any other Settlement Class Member.  
3. 
Why is this a class action? 
In a class action, one or more persons and/or entities, called plaintiffs, sue on behalf of all persons 
and/or entities who have similar claims. All of these persons and/or entities are referred to 
collectively as a class, and these individual persons and/or entities are known as class members. 
One court resolves all of the issues for all class members, except for those class members who 
exclude themselves from the class. 
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4. 
Why is there a Settlement? 
Plaintiffs and Defendants do not agree on the merits of Plaintiffs’ allegations or the amount of 
damages, if any, that would be recoverable even if Plaintiffs were to prevail at trial on each claim. 
The issues on which Plaintiffs and Defendants disagree include, among other issues: (1) whether 
Defendants made any allegedly materially false or misleading statements; (2) whether Defendants 
acted knowingly, recklessly, or negligently in making the alleged misrepresentations; (3) the 
causes of the loss in the value of Sunlight common stock; and (4) the amount of damages, if any, 
that could be recovered at trial. 
In light of the amount of the Settlement, the risks posed by continued litigation of the Action, and 
the immediacy of recovery to the Settlement Class, Plaintiffs and Lead Counsel believe that the 
Settlement is fair, reasonable and adequate, and in the best interests of the Settlement Class.  
Plaintiffs and Lead Counsel believe that the Settlement provides a substantial benefit now, namely 
$3.5 million in cash (less the various deductions described in this Notice), as compared to the risk 
that the claims would produce a smaller recovery, or no recovery, possibly years in the future, as 
well as the risks associated with Sunlight’s financial position.   
5. 
How do I know if I am part of the Settlement? 
The Settlement Class consists of all persons and entities who: (a) purchased the publicly traded 
common stock of Sunlight between January 25, 2021 and September 28, 2022, both dates 
inclusive, and/or (b) beneficially owned and/or held the common stock of Spartan as of June 1, 
2021 and were eligible to vote at Spartan’s July 8, 2021 special meeting.   
There are certain exclusions from the Settlement Class; see Question 6 below.   
6. 
Are there exceptions to being included? 
Yes. Excluded from the Settlement Class are: (a) Defendants and their families, the officers, 
directors and affiliates of Defendants at all relevant times, members of their immediate families 
and their legal representatives, heirs, successors or assigns, and any entity in which any Defendant 
has or had a controlling interest; and (b) persons and entities who suffered no compensable losses.   
Also excluded from the Settlement Class are those Persons who submit valid and timely a request 
for exclusion as described below in the response to Question 11.  
7. 
What if I am still not sure whether I am included? 
If you are still not sure after reading this Notice whether you are included in the Settlement Class, 
you can ask for free help. For more information, you can contact the Claims Administrator, 
Strategic Claims Services, by phone at (866) 274-4004, by email at info@strategicclaims.net, or 
by facsimile at (610) 565-7985; or fill out and return the Proof of Claim and Release Form (“Proof 
of Claim”) described in Question 9, to see if you qualify. 
8. 
What does the Settlement provide? 
a. 
What is the Settlement Fund? 
The proposed Settlement provides for Defendants to pay or cause to be paid three million five 
hundred thousand dollars ($3,500,000) into a settlement fund (the “Settlement Fund”) in 
accordance with an allocation agreed to by the Parties. The Settlement is subject to Court approval. 
Also, subject to the Court’s approval, a portion of the Settlement Fund will be used to pay 
attorneys’ fees with interest and reasonable litigation expenses to Lead Counsel, and any award to 
Plaintiffs. A portion of the Settlement Fund also will be used to pay taxes due on interest earned 
by the Settlement Fund, if necessary, and the costs of the claims administration, including the costs 
of printing and mailing and/or emailing notices and the costs of publishing notices. After the 
foregoing deductions from the Settlement Fund have been made, the amount remaining (the “Net 
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Settlement Fund”) will be distributed to Settlement Class Members who submit timely, valid 
claims, according to the Plan of Allocation to be approved by the Court. 
 
b. 
What can you expect to receive under the proposed Settlement? 
Your share of the Net Settlement Fund will or may depend on: (i) the number of claims filed by 
all Settlement Class Members; (ii) the dates you purchased and sold Sunlight common stock; (iii) 
the prices of your purchases and sales; (iv) the amount of administrative costs, including the costs 
of notice; and (v) the amount awarded by the Court to Lead Counsel for attorneys’ fees, costs, and 
expenses and awards to Plaintiffs. 
The Net Settlement Fund will be distributed to Settlement Class Members who submit a Proof of 
Claim and whose claims for recovery are allowed by the Claims Administrator (“Authorized 
Claimants”) pursuant to the terms of the Settlement Stipulation or by order of the Court in 
accordance with the Proposed Plan of Allocation below. The objective of the Plan of Allocation 
is to equitably distribute the settlement proceeds to those Settlement Class Members who suffered 
economic losses as a proximate result of Defendants’ alleged misrepresentations. The Proposed 
Plan of Allocation reflects Plaintiffs’ contention that because of the alleged misrepresentations 
made by Defendants, the price of Sunlight common stock was artificially inflated during the Class 
Period, and that certain subsequent disclosures caused reductions in the inflated price of Sunlight 
common stock.   
PROPOSED PLAN OF ALLOCATION OF THE NET SETTLEMENT FUND 
The Plan of Allocation is a matter separate and apart from the proposed Settlement, and any 
decision by the Court concerning the Plan of Allocation will not affect the validity or finality of the 
proposed Settlement.  The Court may approve the Plan of Allocation with or without modifications agreed 
to among the Parties, or another plan of allocation, without further notice to Class Members.  Any orders 
regarding a modification of the Plan of Allocation will be posted to the Claims Administrator’s website, 
www.strategicclaims.net/Sunlight/.   
The Claims Administrator will determine each Authorized Claimant’s pro rata share of the Net 
Settlement Fund based upon each Authorized Claimant’s Recognized Loss.   
Please Note:  The Recognized Loss formula, set forth below, is not intended to be an estimate of 
the amount a Settlement Class Member might have been able to recover after a trial, nor is it an estimate 
of the amount that will be paid to Authorized Claimants pursuant to the Settlement. The Recognized Loss 
formula is the basis upon which the Net Settlement Fund will be proportionately allocated to the 
Authorized Claimants. To the extent there are sufficient funds in the Net Settlement Fund, each Authorized 
Claimant will receive an amount equal to the Authorized Claimant’s Recognized Loss. If, however, the 
amount in the Net Settlement Fund is not sufficient to permit payment of the total Recognized Loss of 
each Authorized Claimant, then each Authorized Claimant will be paid the percentage of the Net 
Settlement Fund that each Authorized Claimant’s Recognized Loss bears to the total Recognized Losses 
of all Authorized Claimants (i.e., “pro rata share”). No distribution will be made on a claim where the 
potential distribution amount is less than ten dollars ($10.00) in cash. 
If any funds remain in the Net Settlement Fund by reason of uncashed checks, or otherwise, after 
the Claims Administrator has made reasonable and diligent efforts to have Authorized Claimants who are 
entitled to participate in the distribution of the Net Settlement Fund cash their distribution checks, then 
the Claims Administrator will report to the Court regarding the status of the remaining funds and whether 
an additional distribution is economically feasible. If an additional distribution is not economically 
feasible, Class Counsel will make a motion for a contribution of the remaining funds to a cy pres recipient 
to be approved by the Court.  
 
 
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THE BASIS FOR CALCULATING YOUR RECOGNIZED LOSS AMOUNTS 
Calculation of Recognized Loss Amounts for Settlement Class Members with 10(b) 
Claims 
For shares of Sunlight common stock purchased between January 25, 2021 and September 28, 
2022, both dates inclusive, the Recognized Loss Amount per share shall be calculated as 
follows: 
a. For each share of Sunlight common stock purchased during the Class Period that 
was subsequently sold during the Class Period, the Recognized Loss Amount per 
share is $0.   
b. For each share of Sunlight common stock purchased during the Class Period that 
was subsequently sold during the period September 29, 2022 through December 
27, 2022, inclusive, the Recognized Loss Amount per share is the lesser of: 
i. $1.40 per share; or 
ii. the purchase price minus the average closing price on the date of sale as 
provided in Table A below. 
c. For each share of Sunlight common stock purchased during the Class Period that 
was still held as of the close of trading on December 27, 2022, the Recognized 
Loss Amount per share is the lesser of: 
i. $1.40 per share; or 
ii. the purchase price minus $1.38.1 
 
Table A 
Date 
Closing 
Price 
Average 
Closing 
Price 
Date 
Closing 
Price 
Average 
Closing 
Price 
9/29/2022 
$1.08  
$1.08  
11/11/2022 
$1.36  
$1.17  
9/30/2022 
$1.24  
$1.16  
11/14/2022 
$1.30  
$1.17  
10/3/2022 
$1.24  
$1.19  
11/15/2022 
$1.69  
$1.19  
10/4/2022 
$1.36  
$1.23  
11/16/2022 
$1.58  
$1.20  
10/5/2022 
$1.34  
$1.25  
11/17/2022 
$1.67  
$1.21  
10/6/2022 
$1.24  
$1.25  
11/18/2022 
$1.49  
$1.22  
10/7/2022 
$1.19  
$1.24  
11/21/2022 
$1.49  
$1.22  
10/10/2022 
$1.15  
$1.23  
11/22/2022 
$1.55  
$1.23  
10/11/2022 
$1.13  
$1.22  
11/23/2022 
$1.56  
$1.24  
10/12/2022 
$1.21  
$1.22  
11/25/2022 
$1.64  
$1.25  
10/13/2022 
$1.21  
$1.22  
11/28/2022 
$1.61  
$1.26  
 
1 Pursuant to Section 21(D)(e)(1) of the Private Securities Litigation Reform Act of 1995, “in any private action 
arising under this title in which the plaintiff seeks to establish damages by reference to the market price of a security, 
the award of damages to the plaintiff shall not exceed the difference between the purchase or sale price paid or 
received, as appropriate, by the plaintiff for the subject security and mean trading price of that security during the 
90-day period beginning on the date on which the information correcting the misstatement or omission that is the 
basis for the action is disseminated.”  $1.38 per share was the mean (average) daily closing trading price of the 
Company’s common stock during the 90-day period beginning on September 29, 2022 through and including on 
December 27, 2022. 
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Date 
Closing 
Price 
Average 
Closing 
Price
Date 
Closing 
Price 
Average 
Closing 
Price
10/14/2022 
$1.11  
$1.21  
11/29/2022 
$1.71  
$1.27  
10/17/2022 
$1.06  
$1.20  
11/30/2022 
$1.81  
$1.28  
10/18/2022 
$1.08  
$1.19  
12/1/2022 
$1.73  
$1.29  
10/19/2022 
$1.05  
$1.18  
12/2/2022 
$1.81  
$1.30  
10/20/2022 
$1.06  
$1.17  
12/5/2022 
$1.77  
$1.31  
10/21/2022 
$1.06  
$1.17  
12/6/2022 
$1.63  
$1.32  
10/24/2022 
$1.02  
$1.16  
12/7/2022 
$1.55  
$1.32  
10/25/2022 
$1.13  
$1.16  
12/8/2022 
$1.62  
$1.33  
10/26/2022 
$1.13  
$1.15  
12/9/2022 
$1.68  
$1.34  
10/27/2022 
$1.05  
$1.15  
12/12/2022 
$1.73  
$1.34  
10/28/2022 
$1.13  
$1.15  
12/13/2022 
$1.81  
$1.35  
10/31/2022 
$1.21  
$1.15  
12/14/2022 
$1.69  
$1.36  
11/1/2022 
$1.20  
$1.15  
12/15/2022 
$1.81  
$1.37  
11/2/2022 
$1.13  
$1.15  
12/16/2022 
$1.82  
$1.38  
11/3/2022 
$1.16  
$1.15  
12/19/2022 
$1.89  
$1.38  
11/4/2022 
$1.21  
$1.15  
12/20/2022 
$1.77  
$1.39  
11/7/2022 
$1.15  
$1.15  
12/21/2022 
$1.73  
$1.40  
11/8/2022 
$1.18  
$1.16  
12/22/2022 
$1.13  
$1.39  
11/9/2022 
$1.15  
$1.16  
12/23/2022 
$1.11  
$1.39  
11/10/2022 
$1.28  
$1.16  
12/27/2022 
$1.15  
$1.38  
 
Calculation of Recognized Loss Amount for Settlement Class Members 
with Section 14(a) Claims 
In order to have recoverable damages under Section 14(a) of the Exchange Act, Settlement Class 
Members must have held Spartan common stock as of June 1, 2021; were eligible to vote at 
Spartan’s July 8, 2021 special meeting; and subsequently exchanged these shares for Sunlight 
common stock. The Recognized Loss Amount per share shall be calculated as follows:   
a) For shares sold during the period June 1, 2021 through September 28, 2022, 
inclusive, the Recognized Loss Amount is $10.00 per share minus the sale price 
per share. 
b) For shares held as of the close of trading on September 28, 2022, the Recognized 
Loss per share is $8.92.2 
ADDITIONAL PROVISIONS 
The Settlement Fund will be allocated among all Authorized Claimants based on the amount of 
each Authorized Claimant’s Recognized Loss (defined below). 
If a Settlement Class Member has more than one purchase or sale in Sunlight common stock, 
purchases and sales shall be matched on a First In, First Out (“FIFO”) basis.  Class Period sales
 
2 This represents the difference between $10.00 per share less the “Holding Value” of $1.08 per share of Sunlight 
common stock held as of the close of trading on September 28, 2022 
 
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will be matched first against any holdings at the beginning of the Class Period, and then against 
purchases in chronological order, beginning with the earliest purchase made during the Class 
Period. Shares eligible for the 10(b) Claim are not eligible for the 14(a) Claim and visa-versa.” 
A Claimant’s “Recognized Loss” under the Plan of Allocation shall be the sum of his, her, or 
its Recognized Loss Amounts. 
Purchases and sales of Sunlight common stock shall be deemed to have occurred on the 
“contract” or “trade” date as opposed to the “settlement” or “payment” date.  The receipt or 
grant by gift, inheritance or operation of law of Sunlight common stock during the Class Period 
shall not be deemed a purchase or sale of Sunlight common stock for the calculation of an 
Authorized Claimant’s Recognized Loss Amount, nor shall the receipt or grant be deemed an 
assignment of any claim relating to the purchase of any Sunlight common stock. 
The date of covering a “short sale” is deemed to be the date of purchase of the Sunlight common 
stock.  The date of a “short sale” is deemed to be the date of sale of the Sunlight common stock.  
Under the Plan of Allocation, however, the Recognized Loss Amount on “short sales” is zero.  
In the event that a claimant has an opening short position in Sunlight common stock, the earliest 
Class Period purchases of Sunlight common stock shall be matched against such opening short 
position, and not be entitled to a recovery, until that short position is fully covered. 
Option contracts are not securities eligible to participate in the Settlement.  With respect to 
Sunlight common stock purchased or sold through the exercise of an option, the purchase/sale 
date of the common stock is the exercise date of the option and the purchase/sale price of the 
common stock is the exercise price of the option. 
To the extent a claimant had a Market Gain with respect to his, her, or its overall transactions in 
Sunlight common stock during the Class Period, the value of the claimant’s Recognized Loss 
shall be zero.  Such claimants shall in any event be bound by the Settlement.  To the extent that 
a claimant suffered an overall Market Loss with respect to his, her, or its overall transactions in 
Sunlight common stock during the Class Period, but that Market Loss was less than the total 
Recognized Loss calculated above, then the claimant’s Recognized Loss shall be limited to the 
amount of the actual Market Loss. For purposes of making this calculation, the Claims 
Administrator shall determine the difference between (i) the claimant’s Total Purchase Amount  
and (ii) the sum of the claimant’s Total Sales Proceeds  and the claimant’s Holding Value.   If 
the claimant’s Total Purchase Amount minus the sum of the claimant’s Total Sales Proceeds 
and the Holding Value is a positive number, that number will be the claimant’s Market Loss; if 
the number is a negative number or zero, that number will be the claimant’s Market Gain. 
Payment pursuant to the Plan of Allocation, or such other plan of allocation as may be approved 
by the Court, shall be conclusive against all Authorized Claimants.  No Person shall have any 
claim against the Plaintiffs, the Settlement Class, Plaintiffs’ Counsel, Released Defendant 
Parties (as defined below), Defendants Counsel, or the Claims Administrator based on 
distributions made substantially in accordance with the Settlement, the Stipulation, the Plan of 
Allocation, or otherwise as further ordered by the Court.  The Plaintiffs, Defendants, their 
respective counsel, Plaintiffs’ damages expert, and all other releasees, including the Released 
Defendant Parties, shall have no responsibility or liability whatsoever for the investment or 
distribution of the Settlement Fund, the Settlement Fund, the Plan of Allocation, or the 
determination, administration, calculation, or payment of any Claim Form or nonperformance 
of the Claims Administrator, the payment or withholding of taxes (including interest and 
penalties) owed by the Settlement Fund, or any losses incurred in connection therewith. 
 
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9. 
How can I get a payment? 
To qualify for a payment, you must send in a form entitled “Proof of Claim and Release Form.” 
This Proof of Claim is attached to this Notice. You may also obtain a Proof of Claim at 
www.strategicclaims.net/Sunlight/. Read the instructions carefully, fill out the form, and sign it in 
the location indicated. The Proof of Claim may be completed in two ways: (1) by completing and 
submitting it electronically at www.strategicclaims.net/Sunlight/ by 11:59 p.m. EST on November 
19, 2024; or (2) by mailing the claim form together with all documentation requested in the form, 
postmarked no later than November 19, 2024, to: 
Sunlight Financial Holdings, Inc. Securities Litigation 
c/o Strategic Claims Services 
P.O. Box 230 
600 N. Jackson St., Ste. 205 
Media, PA 19063 
Fax: (610) 565-7985 
info@strategicclaims.net 
The Claims Administrator will process your claim and determine whether you are an Authorized 
Claimant. 
Please 
contact 
the 
Claims 
Administrator 
if 
you 
disagree 
with 
any 
determinations made by the Claims Administrator regarding your Proof of Claim. If you 
are unsatisfied with the determinations, you may ask the Court, which retains jurisdiction 
over all Settlement Class Members and the claims-administration process, to decide the 
issue by submitting a written request. 
10. 
What am I giving up by receiving a payment and staying in the Class? 
Unless you exclude yourself from the Settlement Class by the November 19, 2024, deadline, you 
will remain a member of the Settlement Class, receive your share of the Net Settlement Fund if 
you are an Authorized Claimant and submitted a valid Proof of Claim, and will be bound by the 
release of claims against the Defendants and other Released Defendant Parties if the Settlement is 
approved. That means you and all other Settlement Class Members and each of their respective 
past or present trustees, officers, directors, partners, employees, affiliates, contractors, principals, 
agents, attorneys, predecessors, successors, assigns, insurers, parents, subsidiaries, general or 
limited partners or partnerships, and limited liability companies; and the spouses, members of the 
immediate families, representatives, and heirs of any of the foregoing who is an individual, as well 
as any trust of which any of the foregoing is the settlor or which is for the benefit of any of their 
immediate family members, will release (agreeing never to sue, continue to sue, or be part of any 
other lawsuit) Defendants and all Released Defendant Parties from any and all claims which arise 
out of, are based upon or relate in any way to the purchase of Sunlight or Spartan common stock 
during the Class Period. It means that all of the Court’s orders will apply to you and legally bind 
you. That means you will accept a share of the Net Settlement Fund as sole compensation for any 
losses you suffered with respect to the Plaintiffs’ Released Claims (as defined in the Settlement 
Stipulation) in the purchase, sale or ownership of Sunlight or Spartan common stock during the 
Class Period. The specific terms of the release are included in the Settlement Stipulation.     
11. 
How do I get out of the Settlement? 
If you do not want to receive a payment from this Settlement, and you want to keep any right you 
may have to sue or continue to sue Defendants or other Released Defendant Parties on your own, 
at your own expense, about the claims being released in this Settlement, then you must take steps 
to exclude yourself from the Settlement. To exclude yourself from the Settlement, you must mail 
a letter that (A) clearly indicates your name, address, phone number and e-mail contact information 
(if any) and states that you “request to be excluded from the Settlement Class in Fung v. Sunlight 
Case 2:24-cv-09510-ES-JRA     Document 40-2     Filed 07/25/25     Page 10 of 21 PageID:
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10 
Financial Holdings Inc., et al., Case No. 1:22-cv-10658-AKH” and (B) state the number of shares 
of publicly-traded Sunlight common stock you (i) owned as of the opening of trading on January 
25, 2021, and (ii) purchased and/or sold during the Class Period, including the number of shares, 
dates, and prices for each transaction.   
To be valid, such request for exclusion must be submitted with documentary proof: (i) of each 
purchase and, if applicable, sale transaction of Sunlight common stock during the Class Period; 
and (ii) demonstrating your status as a beneficial owner of the Sunlight common stock. Any such 
request for exclusion must be signed and submitted by you, as the beneficial owner, under penalty 
of perjury. You must mail your exclusion request, to be received no later than November 19, 
2024, to the Claims Administrator at the following address: 
Sunlight Financial Holdings, Inc. Securities Litigation 
c/o Strategic Claims Services 
P.O. Box 230 
600 N. Jackson Street, Suite 205 
Media, PA 19063 
You cannot exclude yourself by telephone or by e-mail. 
If you properly exclude yourself, you will not receive a payment from the Net Settlement Fund, 
you cannot object to the Settlement, and you will not be legally bound by the judgment in this 
case.  
12. 
If I do not exclude myself, can I sue Defendants or the other Released Defendant Parties for 
the same thing later? 
No. Unless you followed the procedure outlined in the Long Notice to exclude yourself, you give 
up any right to sue Defendants or the Released Defendant Parties for the claims being released in 
this Settlement. If you have a pending lawsuit related to any Released Claims, speak to your lawyer 
in that case immediately, since you must exclude yourself from this Settlement Class to continue 
your own lawsuit.   
13. 
Do I have a lawyer in this case? 
The Court appointed The Rosen Law Firm, P.A. as Lead Counsel to represent you and the other 
Settlement Class Members. If you want to be represented by your own lawyer, you may hire one 
at your own expense. Contact information for The Rosen Law Firm, P.A. is provided below. 
14. 
How will the lawyers be paid? 
Plaintiffs’ Counsel have expended considerable time litigating this Action on a contingent fee basis 
and have paid for the expenses of the case themselves. They have not been paid attorneys’ fees or 
reimbursed for their expenses in advance of this Settlement. Plaintiffs’ Counsel have done so with 
the expectation that, if they are successful in recovering money for the Settlement Class, they will 
receive attorneys’ fees and be reimbursed for their litigation expenses from the Settlement Fund, 
as is customary in this type of litigation. Plaintiffs’ Counsel will not receive attorneys’ fees or be 
reimbursed for their litigation expenses except from the Settlement Fund. Therefore, Lead Counsel 
will apply to the Court for an award of attorneys’ fees on behalf of Plaintiffs’ Counsel (i.e., Lead 
Counsel, The Rosen Law Firm, P.A. and Additional Counsel, Glancy Prongay & Murray LLP) in 
an amount not to exceed 29% ($1,015,000) of the Settlement Fund plus interest, reimbursement of 
litigation expenses of no more than $58,000, and an award to Plaintiffs not to exceed $6,000 in 
total. The Court may award less than these amounts. Any amounts awarded by the Court will come 
out of the Settlement Fund. 
 
 
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11 
15. 
How do I tell the Court that I do not like the Settlement? 
 
You can tell the Court you do not agree with the Settlement, any part of the Settlement, and/or to 
Lead Counsel’s motion for attorneys’ fees and expenses and application for an award to Plaintiffs, 
and/or that you think the Court should not approve the Settlement, by mailing a letter stating that 
you object to the Settlement in the matter of Fung v. Sunlight Financial Holdings Inc., et al., Case 
No. 1:22-cv-10658-AKH. To be valid, any such objection must: (1) state your name, address, e-
mail contact information (if any), and telephone number; (2) state and include documentation of 
the number of shares of publicly-traded Sunlight common stock you (i) owned as of the opening 
of trading on January 25, 2021, and (ii) purchased and/or sold during the Class Period, including 
the number of shares, dates, and prices for each transaction; (3) state all grounds for the objection, 
including any legal support known to you or your counsel; (4) state the name, address and 
telephone number of all counsel, if any, who represent you, including your former or current 
counsel who may be entitled to compensation in connection with the objection; and (5) state the 
number of times you and/or your counsel has filed an objection to a class action settlement in the 
last five years, the nature of each such objection in each case, the jurisdiction in each case, and the 
name of the issuer of the security or seller of the product or service at issue in each case. Attendance 
at the Settlement Fairness Hearing is not necessary. Objectors wishing to be heard orally at the 
Settlement Fairness Hearing are required to indicate in their written objection (or in a separate 
writing that is submitted and served on Lead Counsel and Defendants’ Counsel at least ten (10) 
calendar days prior the Settlement Fairness Hearing) that they intend to appear at the Settlement 
Fairness Hearing and identify any witnesses they may call to testify or exhibits they intend to 
introduce into evidence at the Settlement Fairness Hearing. Be sure to serve copies of any 
objections, papers and briefs to each of the addresses listed below, to be received no later than 
November 19, 2024: 
 
Clerk of the Court 
U.S. District Court 
Southern District of 
New York 
Daniel Patrick Moynihan 
United States Courthouse 
500 Pearl Street 
New York, NY 10007 
 
Yu Shi 
The Rosen Law Firm, P.A 
275 Madison Avenue 
40th Floor 
New York, NY 10016 
Lead Counsel for Plaintiffs 
Jeffrey J. Chapman 
Aaron F. Jaroff 
McGuireWoods LLP 
1251 Avenue of the Americas, 
20th Floor 
New York, NY 10020 
Jeffrey Crough 
Vinson & Elkins LLP 
2001 Ross Avenue 
Suite 3900 
Dallas, TX 75201 
Defendants’ Counsel 
16. 
What is the difference between objecting and requesting exclusion? 
Objecting is simply telling the Court you do not like something about the Settlement or some 
portion thereof. You can object only if you stay in the Settlement Class. Requesting exclusion is 
telling the Court you do not want to be part of the Settlement Class and Settlement. If you exclude 
yourself, you cannot object to the Settlement because it no longer concerns you. If you stay in the 
Settlement Class and object, but your objection is overruled, you will not be allowed a second 
opportunity to exclude yourself. 
17. 
When and where will the Court decide whether to approve the Settlement? 
The Court will hold a Settlement Fairness Hearing on December 10, 2024, at 10:00 a.m., at the 
United States District Court for the Southern District of New York, 500 Pearl Street, Courtroom 
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12 
14D, New York, NY 10007. The Court reserves the right to hold the Settlement Fairness Hearing 
telephonically or by other virtual means. In the event the Court decides to hold the Settlement 
Fairness Hearing telephonically or by other virtual means, Lead Counsel will direct the Claims 
Administrator to update its website, on the page dedicated to this Settlement, to include the 
telephone number or other virtual means to access the Settlement Fairness Hearing. 
18. 
Do I have to come to the hearing? 
No. Lead Counsel will answer any questions the Court may have. However, you are welcome to 
attend at your own expense. If you send an objection, you do not have to come to Court to talk 
about it. As long as you mail your written objection so that it is received by November 19, 2024, 
the Court will consider it.   
19. 
What happens if I do nothing at all? 
If you do nothing, you will not receive a payment from the Settlement. However, unless you 
exclude yourself, you will not be able to start a lawsuit, continue with a lawsuit, or be part of any 
other lawsuit against Defendants or the Released Defendant Parties about the Released Claims (as 
defined in the Settlement Stipulation) ever again. 
SPECIAL NOTICE TO BROKERS AND OTHER NOMINEES 
 
If, during the Class Period, you purchased or sold publicly-traded Sunlight Financial Holdings, 
Inc. f/k/a Spartan Acquisition Corp. II (“Sunlight”) common stock for the beneficial interest of a person 
or organization other than yourself, the Court has directed that, WITHIN TEN (10) CALENDAR DAYS 
OF YOUR RECEIPT OF NOTICE, you either (a) provide to the Claims Administrator the name, email 
address, and last known address of each person or organization for whom or which you purchased 
publicly-traded Sunlight common stock during such time period; (b) request links to the Long Notice and 
Proof of Claim and an electronic copy of the Summary Notice and, within ten (10) calendar days after 
receiving the Summary Notice or link to the Notice and Proof of Claim, either email the Summary Notice 
and links to the Long Notice and Proof of Claim to the email address of each beneficial purchaser/owner 
of publicly-traded Sunlight common stock; or (c) request additional copies of the Postcard Notice, which 
will be provided to you free of charge, and within ten (10) calendar days of receipt, mail the Postcard 
Notice directly to the beneficial purchaser/owners of the publicly-traded Sunlight common stock. If you 
choose to follow alternative procedures (b) or (c), the Court has directed that, upon such mailing, you send 
a statement to the Claims Administrator confirming that the mailing or emailing was made as directed. 
You are entitled to reimbursement from the Settlement Fund of your reasonable out-of-pocket expenses 
actually incurred in connection with the foregoing, up to $0.05 per name, address and email address 
provided to the Claims Administrator; up to a maximum of $0.05 per Postcard Notice mailed by you, plus 
postage at the pre-sort rate used by the Claims Administrator; or $0.05 per notice sent by email. Those 
expenses will be paid upon request and submission of appropriate supporting documentation. All 
communications regarding the foregoing should be addressed to the Claims Administrator at the address 
listed on page 3 above. 
 
 
 
 
 
DATED:  August 15, 2024 
BY ORDER OF THE UNITED STATES 
DISTRICT COURT FOR THE SOUTHERN 
DISTRICT OF NEW YORK 
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1 
PROOF OF CLAIM AND RELEASE FORM 
Deadline for Submission: November 19, 2024 
IF YOU: (A) PURCHASED THE PUBLICLY-TRADED COMMON STOCK OF SUNLIGHT 
FINANCIAL HOLDINGS, INC. (“SUNLIGHT”) BETWEEN JANUARY 25, 2021 AND SEPTEMBER 
28, 2022, BOTH DATES INCLUSIVE (THE “CLASS PERIOD”), AND/OR (B) BENEFICIALLY 
OWNED AND/OR HELD THE COMMON STOCK OF SPARTAN ACQUISITION CORP. II 
(“SPARTAN”) AS OF JUNE 1, 2021 AND WERE ELIGIBLE TO VOTE AT SPARTAN’S JULY 8, 
2021 SPECIAL MEETING, YOU ARE A “SETTLEMENT CLASS MEMBER” AND YOU MAY BE 
ENTITLED TO SHARE IN THE SETTLEMENT PROCEEDS. (EXCLUDED FROM THE 
SETTLEMENT CLASS ARE: (1) DEFENDANTS AND THEIR FAMILIES, THE OFFICERS, 
DIRECTORS AND AFFILIATES OF DEFENDANTS AT ALL RELEVANT TIMES, MEMBERS OF 
THEIR 
IMMEDIATE 
FAMILIES 
AND 
THEIR 
LEGAL 
REPRESENTATIVES, 
HEIRS, 
SUCCESSORS OR ASSIGNS, AND ANY ENTITY IN WHICH ANY DEFENDANT HAS OR HAD A 
CONTROLLING INTERESTING, (2) PERSONS AND ENTITIES WHO SUFFERED NO 
COMPENSABLE LOSSES, AND (3) PERSONS AND ENTITIES WHO SUBMIT VALID REQUESTS 
FOR EXCLUSION FROM THE SETTLEMENT CLASS.). 
IF YOU ARE A SETTLEMENT CLASS MEMBER, YOU MUST COMPLETE AND SUBMIT THIS 
PROOF OF CLAIM AND RELEASE FORM (“PROOF OF CLAIM”) TO BE ELIGIBLE TO SHARE 
IN THE SETTLEMENT BENEFITS. YOU CAN COMPLETE AND SUBMIT THE ELECTRONIC 
VERSION OF THIS PROOF OF CLAIM BY 11:59 P.M. EST ON NOVEMBER 19, 2024 AT 
WWW.STRATEGICCLAIMS.NET/SUNLIGHT/. 
IF YOU DO NOT COMPLETE AND SUBMIT AN ELECTRONIC VERSION OF THIS CLAIM 
FORM, YOU MUST COMPLETE AND SIGN THIS PROOF OF CLAIM AND MAIL IT BY 
FIRST CLASS MAIL, POSTMARKED NO LATER THAN NOVEMBER 19, 2024, TO 
STRATEGIC CLAIMS SERVICES, THE CLAIMS ADMINISTRATOR, AT THE FOLLOWING 
ADDRESS: 
Sunlight Financial Holdings, Inc. Securities Litigation 
c/o Strategic Claims Services 
600 N. Jackson Street, Suite 205 
P.O. Box 230 
Media, PA 19063 
Tel.: 866-274-4004  
info@strategicclaims.net 
SUBMIT YOUR CLAIM ONLY TO THE CLAIMS ADMINISTRATOR. DO NOT MAIL OR 
DELIVER YOUR CLAIM TO THE COURT OR TO ANY OF THE PARTIES OR THEIR COUNSEL 
AS ANY SUCH CLAIM WILL BE DEEMED NOT TO HAVE BEEN SUBMITTED.  
YOUR FAILURE TO SUBMIT YOUR CLAIM BY NOVEMBER 19, 2024, WILL SUBJECT YOUR 
CLAIM TO REJECTION AND PRECLUDE YOU FROM RECEIVING ANY MONEY IN 
CONNECTION WITH THE SETTLEMENT OF THIS ACTION. IF YOU ARE A SETTLEMENT 
CLASS MEMBER AND DO NOT SUBMIT A PROPER CLAIM FORM, YOU WILL NOT SHARE IN 
THE SETTLEMENT BUT YOU NEVERTHELESS WILL BE BOUND BY THE COURT’S ORDER 
AND FINAL JUDGMENT UNLESS YOU EXCLUDE YOURSELF. SUBMISSION OF A PROOF OF 
CLAIM DOES NOT GUARANTEE THAT YOU WILL SHARE IN THE PROCEEDS OF THE 
SETTLEMENT.   
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2 
CLAIMANT’S STATEMENT 
1. I (we) purchased publicly-traded Sunlight common stock during the Class Period and/or beneficially 
owned and/or held Spartan common stock as of June 1, 2021 and was (were) eligible to vote at 
Spartan’s July 8, 2021 special meeting. (Do not submit this Proof of Claim if you did not purchase 
Sunlight common stock during the Class Period and did not beneficially own or hold Spartan common 
stock as of June 1, 2021.) 
2. By submitting this Proof of Claim, I (we) state that I (we) believe in good faith that I am (we are) a 
Settlement Class Member(s) as defined above and in the Notice of Pendency and Proposed Settlement 
of Class Action (the “Long Notice”), or am (are) acting for such person(s); that I am (we are) not a 
Defendant in the Action or anyone excluded from the Settlement Class; that I (we) have read and 
understand the Long Notice; that I (we) believe that I am (we are) entitled to receive a share of the Net 
Settlement Fund, as defined in the Long Notice; that I (we) elect to participate in the proposed 
Settlement described in the Long Notice; and that I (we) have not filed a request for exclusion. (If you 
are acting in a representative capacity on behalf of a Settlement Class Member [e.g., as an executor, 
administrator, trustee, or other representative], you must submit evidence of your current authority to 
act on behalf of that Settlement Class Member. Such evidence would include, for example, letters 
testamentary, letters of administration, or a copy of the trust documents.) 
3. I (we) consent to the jurisdiction of the Court with respect to all questions concerning the validity of 
this Proof of Claim. I (we) understand and agree that my (our) claim may be subject to investigation 
and discovery under the Federal Rules of Civil Procedure, provided that such investigation and 
discovery shall be limited to my (our) status as a Settlement Class Member(s) and the validity and 
amount of my (our) claim. No discovery shall be allowed on the merits of the Action or Settlement in 
connection with processing of the Proof of Claim. 
4. I (we) have set forth where requested below all relevant information with respect to each purchase of 
Sunlight publicly traded and/or Spartan common stock, and each sale, if any, of such common stock. 
I (we) agree to furnish additional information to the Claims Administrator to support this claim if 
requested to do so. 
5. I (we) have enclosed photocopies of the stockbroker’s confirmation slips, stockbroker’s statements, or 
other documents evidencing each purchase and sale of publicly-traded Sunlight and/or Spartan 
common stock beneficially owned and/or held and sale listed below in support of my (our) claim. (If 
any such documents are not in your possession, please obtain a copy or equivalent documents from 
your broker or tax advisor because these documents are necessary to prove and process your claim. 
YOUR FAILURE TO SUBMIT COPIES OF OFFICIAL DOCUMENTS EVIDENCING YOUR 
PURCHASES AND/OR SALES WILL CAUSE THE CLAIMS ADMINISTRATOR TO 
REJECT YOUR CLAIM.) 
6. I (we) understand that the information contained in this Proof of Claim is subject to such verification 
as the Claims Administrator may request or as the Court may direct, and I (we) agree to cooperate in 
any such verification. (The information requested herein is designed to provide the minimum amount 
of information necessary to process most simple claims. The Claims Administrator may request 
additional information as required to calculate your Recognized Loss efficiently and reliably. In some 
cases, the Claims Administrator may condition acceptance of the claim based upon the production of 
additional information, including, where it could affect your Recognized Loss, information concerning 
transactions in any derivative securities such as options.) 
7. Upon the occurrence of the Court’s approval of the Settlement, as detailed in the Long Notice, I (we) 
agree and acknowledge that my (our) signature(s) hereto shall effect and constitute a full and complete 
release, remise and discharge by me (us) and my (our) heirs, joint tenants, tenants in common, 
Case 2:24-cv-09510-ES-JRA     Document 40-2     Filed 07/25/25     Page 15 of 21 PageID:
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3 
beneficiaries, executors, administrators, predecessors, successors, attorneys, insurers and assigns (or, 
if I am (we are) submitting this Claim Form on behalf of a corporation, a partnership, estate or one or 
more other persons, by it, him, her or them, and by its, his, her or their heirs, executors, administrators, 
predecessors, successors, and assigns) of each of the “Released Parties” of all “Released Claims,” as 
those terms are defined in the Stipulation of Settlement, dated August 8, 2024 (“Settlement 
Stipulation”).   
8. Upon the occurrence of the Court’s approval of the Settlement, as detailed in the Long Notice, I (we) 
agree and acknowledge that my (our) signature(s) hereto shall effect and constitute a covenant by me 
(us) and my (our) heirs, joint tenants, tenants in common, beneficiaries, executors, administrators, 
predecessors, successors, attorneys, insurers and assigns (or, if I am (we are) submitting this Claim 
Form on behalf of a corporation, a partnership, estate or one or more other persons, by it, him, her or 
them, and by its, his, her or their heirs, executors, administrators, predecessors, successors, and 
assigns) to permanently refrain from prosecuting or attempting to prosecute any Released Claims 
against any of the Released Parties. 
9. I acknowledge that “Released Parties” has the meaning laid out in the Settlement Stipulation. 
10. I acknowledge that “Released Claims” has the meaning laid out in the Settlement Stipulation. 
11. I acknowledge that “Unknown Claims” has the meaning laid out in the Settlement Stipulation. 
12.  I (We) acknowledge that the inclusion of “Unknown Claims” in the definition of claims released 
pursuant to the Settlement Stipulation was separately bargained for and is a material element of the 
Settlement of which this release is a part. 
13. NOTICE REGARDING INSTITUTIONAL FILERS: Representatives with authority to file on behalf 
of (a) accounts of multiple Settlement Class Members and/or (b) institutional accounts with large 
numbers of transactions (“Representative Filers”) must submit information regarding their 
transactions in an electronic spreadsheet format. If you are a Representative Filer, you must contact 
the Claims Administrator at efile@strategicclaims.net or visit their website at www.strategicclaims.net 
to obtain the required file layout. Claims which are not submitted in electronic spreadsheet format and 
in accordance with the Claims Administrator’s instructions may be subject to rejection.  All 
Representative Filers MUST also submit a manually signed Claim Form for each Settlement Class 
Member, as well as proof of authority to file (see Item 2 of the Claimant’s Statement), along with the 
electronic spreadsheet format.  No claims submitted in electronic spreadsheet format will be 
considered to have been properly submitted unless the Claims Administrator issues to the Claimant a 
written acknowledgment of receipt and acceptance of electronically submitted data. 
14. NOTICE REGARDING ONLINE FILING: Claimants who are not Representative Filers may submit 
their 
claims 
online 
using 
the 
electronic 
version 
of 
the 
Claim 
Form 
hosted 
at 
www.strategicclaims.net/Sunlight/.  If you are not acting as a Representative Filer, you do not need to 
contact the Claims Administrator prior to filing; you will receive an automated e-mail confirming 
receipt once your Claim Form has been submitted. If you are unsure if you should submit your claim 
as a Representative Filer, please contact the Claims Administrator at info@strategicclaims.net or (866) 
274-4004. If you are not a Representative Filer, but your claim contains a large number of transactions, 
the Claims Administrator may request that you also submit an electronic spreadsheet showing your 
transactions to accompany your Claim. 
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SUNLIGHT FINANCIAL
4 
I. CLAIMANT INFORMATION 
Beneficial Owner Name 
 
 
Address 
 
City 
State 
Zip Code 
Foreign Province 
Foreign Country 
Day Phone 
Evening Phone 
Email 
Social Security Number (for 
individuals): 
 
OR 
Taxpayer Identification Number (for estates, 
trusts, corporations, etc.): 
 
 
II. SCHEDULE OF TRANSACTIONS IN SUNLIGHT FINANCIAL HOLDINGS, INC.  
(“SUNLIGHT”) COMMON STOCK 
Beginning Holdings: 
A. State the total number of shares of Sunlight common stock (then known 
as Spartan common stock) held at the close of trading on January 24, 
2021 (must be documented).  If none, write “zero” or “0.”
 
 
Purchases/Acquisitions: 
B. Separately list each and every purchase of publicly-traded Sunlight common stock (either Spartan or 
Sunlight common stock) between January 25, 2021 and December 27, 2022, both dates inclusive, and 
provide the following information (must be documented): 
Trade Date1 
(List 
Chronologically) 
(Month/Day/Year) 
Ticker Symbol 
(SPRQ or 
SUNL) 
Number of 
Shares 
Purchased 
Price per 
Share 
Total Cost 
(Excluding 
Commissions, 
Taxes, and Fees) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1 “Trade Date” refers to the date the trade was initiated not the settlement date. 
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SUNLIGHT FINANCIAL
5 
Sales: 
C.  Separately list each and every sale of publicly-traded Sunlight common stock (either Spartan or 
Sunlight common stock) between January 25, 2021 and December 27, 2022, both dates inclusive, and 
provide the following information (must be documented): 
Trade Date 
(List 
Chronologically) 
(Month/Day/Year) 
Ticker Symbol 
(SPRQ or 
SUNL) 
Number of 
Shares Sold 
Price per 
Share 
Amount Received 
(Excluding 
Commissions, 
Taxes, and Fees) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending Holdings: 
D. State the total number of shares of publicly-traded Sunlight common 
stock held at the close of trading on December 27, 2022 (must be 
documented).  If none, write “zero” or “0.”
 
 
If additional space is needed, attach separate, numbered sheets, giving all required information, 
substantially in the same format, and print your name and Social Security or Taxpayer 
Identification number at the top of each sheet. 
 
III. SCHEDULE OF HOLDINGS IN SPARTAN COMMON STOCK 
A. 
Number of shares of Spartan common stock held at the close of trading on June 1, 2021.  (Must be 
documented.)  If none, write “zero”: ____________ 
B. 
Were you eligible to vote at Spartan’s July 8, 2021 special meeting?  Write “yes” or “no”:  
_______________. 
C. 
Number of shares of Spartan common stock held at the close of trading on July 8, 2021 that were 
not redeemed. (Must be documented.)  If none, write “zero”: ____________ 
 
IV. SUBSTITUTE FORM W-9 
 
Request for Taxpayer Identification Number: 
 
Enter taxpayer identification number below for the Beneficial Owner(s).  For most individuals, this is your 
Social Security Number.  The Internal Revenue Service (“I.R.S.”) requires such taxpayer identification 
number.  If you fail to provide this information, your claim may be rejected. 
 
Social Security Number (for 
individuals) 
or 
 
Taxpayer Identification Number 
(for estates, trusts, corporations, etc.) 
 
_____________________________ 
 
 
_______________________________ 
 
 
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SUNLIGHT FINANCIAL
6 
V. CERTIFICATION 
 
I (We) submit this Claim Form under the terms of the Settlement Stipulation described in the Long Notice. 
I (We) also submit to the jurisdiction of the United States District Court for the Southern District of New 
York with respect to my (our) claim as a Settlement Class Member(s) and for purposes of enforcing the 
release and covenant not to sue set forth herein. I (We) further acknowledge that I am (we are) bound by 
and subject to the terms of any judgment that may be entered in this Action. I (We) have not submitted 
any other claim covering the same purchases or sales of publicly-traded Sunlight or Spartan common stock 
and know of no other Person having done so on my (our) behalf.   
 
I (We) certify that I am (we are) NOT subject to backup withholding under the provisions of Section 3406 
(a)(1)(c) of the Internal Revenue Code because: (a) I am (We are) exempt from backup withholding; or 
(b) I (We) have not been notified by the I.R.S. that I am (we are) subject to backup withholding as a result 
of a failure to report all interest or dividends; or (c) the I.R.S. has notified me (us) that I am (we are) no 
longer subject to backup withholding. 
 
NOTE: If you have been notified by the I.R.S. that you are subject to backup withholding, please 
strike out the language that you are not subject to backup withholding in the certification above. 
 
UNDER THE PENALTIES OF PERJURY UNDER THE LAWS OF THE UNITED STATES, I (WE) 
CERTIFY THAT ALL OF THE INFORMATION I (WE) PROVIDED ON THIS CLAIM FORM IS 
TRUE, CORRECT AND COMPLETE. 
 
 
Signature of Claimant (If this claim is being made 
on behalf of Joint Claimants, then each must sign): 
 
________________________________________ 
(Signature) 
 
________________________________________ 
(Signature) 
 
________________________________________ 
(Capacity of person(s) signing, e.g. beneficial 
purchaser(s), executor, administrator, trustee, etc.) 
 Check here if proof of authority to file is enclosed. 
(See Item 2 under Claimant’s Statement) 
 
Date:  ____________________ 
 
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7 
THIS PROOF OF CLAIM MUST BE POSTMARKED NO LATER THAN NOVEMBER 19, 2024 
AND MUST BE MAILED TO: 
 
Sunlight Financial Holdings, Inc. Securities Litigation 
c/o Strategic Claims Services 
600 N. Jackson Street, Suite 205 
P.O. Box 230 
Media, PA 19063 
Fax: (610) 565-7985 
info@strategicclaims.net 
 
A Poof of Claim received by the Claims Administrator shall be deemed to have been submitted when 
posted, if mailed by November 19, 2024 and if a postmark is indicated on the envelope and it is mailed 
first class and addressed in accordance with the above instructions.  In all other cases, a Proof of Claim 
shall be deemed to have been submitted when actually received by the Claims Administrator. 
 
The Claims Administrator will acknowledge receipt of your Proof of Claim by mail or email within 45 
days of receipt. Your claim is not deemed filed until you receive such an acknowledgement. If you do not 
receive an acknowledgement within 45 days, please contact the Claims Administrator by telephone toll-
free at 866-274-4004 or by email at info@strategicclaims.net.     
 
You should be aware that it will take a significant amount of time to process fully all of the Proof of 
Claims and to administer the Settlement.  This work will be completed as promptly as time permits, given 
the need to investigate and tabulate each Proof of Claim. Please notify the Claims Administrator of any 
change of address. 
 
REMINDER CHECKLIST 
 
o Please be sure to sign this Proof of Claim on page 6. If this Proof of Claim is submitted on behalf of 
joint claimants, each claimant must sign. 
o Please remember to attach supporting documents. Do NOT send any stock certificates.  Keep copies 
of everything you submit. 
o Do NOT use highlighter on the Proof of Claim or any supporting documents. 
o If you move or change your address, telephone number or email address, please submit the new 
information to the Claims Administrator, as well as any other information that will assist us in 
contacting you. NOTE: Failure to submit updated information to the Claims Administrator may result 
in the Claims Administrator’s inability to contact you regarding issues with your claim or deliver 
payment to you. 
Case 2:24-cv-09510-ES-JRA     Document 40-2     Filed 07/25/25     Page 20 of 21 PageID:
1441


 
Sunlight Financial Holdings, Inc. Securities Litigation 
c/o Strategic Claims Services 
600 N. Jackson Street, Suite 205 
Media, PA 19063 
 
IMPORTANT LEGAL NOTICE – PLEASE FORWARD 
Case 2:24-cv-09510-ES-JRA     Document 40-2     Filed 07/25/25     Page 21 of 21 PageID:
1442

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