Company: HBAN
Filing Date: 2025-08-15
Form Type: 424B3
Source: 0001140361-25-031511
Chunk: 62

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-08-15
Form: 424B3
Chunk 62
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 based on the parties’ ongoing negotiations and substantial completion of their due diligence reviews. Members of Veritex management then reviewed with the directors the status, process and key findings of Veritex’s due diligence review of Huntington. Mr. Holland then reviewed with the directors the material terms of the advisory services and non-competition agreements that Messrs. Holland and Earley and Huntington would enter into in connection with the proposed transaction. Representatives of KBW then reviewed with the Veritex Board certain financial aspects of the potential transaction on preliminary basis based on the proposed exchange ratio. Representatives of Simpson Thacher discussed with the directors the terms of the transaction documents, including the principal terms of the draft merger agreement, and reviewed with the directors their fiduciary duties in connection with their consideration of a potential transaction with Huntington. Following discussion, the directors expressed unanimous support for pursuing a potential transaction with Huntington on the terms discussed at the meeting and directed Veritex management, with the assistance of Veritex’s advisors, to finalize the merger agreement and other transaction documents. On July 13, 2025, a joint meeting of the Veritex Board and Veritex Community Bank Board was held to discuss the potential transaction with Huntington, with members of Veritex management and representatives of KBW and Simpson Thacher in attendance. Mr. Holland updated the directors regarding the discussions and developments between Veritex and Huntington and their respective advisors since the July 11, 2025 Veritex Board meeting, and informed the boards that the Huntington holding company and bank boards of directors had previously met and approved the transaction. KBW reviewed the financial aspects of the proposed transaction based on the proposed 1.95 exchange ratio and closing market information on July 11, 2025 and rendered to the Veritex Board an opinion, which was initially rendered verbally and subsequently confirmed in a written opinion, dated July 13, 2025, to the effect that, as of such date and subject to the procedures followed, assumptions made, matters considered, and qualifications and limitations on the review undertaken by KBW, as set forth in its written opinion, the exchange ratio in the merger was fair, from a financial point of view, to the holders of Veritex common stock. Representatives of Simpson Thacher discussed with the directors the proposed final terms of the transaction documents. Following discussion, the directors in attendance expressed unanimous support for entering into a transaction with Huntington on the terms discussed and directed that Veritex execute the merger agreement and other transaction documents. During the