Company: ONBPP
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001104659-25-007256
Chunk: 22

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-29
Form: S-4/A
Chunk 22
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 stock was approximately $124.83 as of such date. We suggest that you obtain a current market quotation for Old National, which is currently traded on the NASDAQ Stock Exchange under the trading symbol “ONB”. Bremer common stock is not listed or quoted on any exchange.

The following table shows the closing sales prices of Old National common stock on November 22, 2024, the last trading day before the public announcement of the merger agreement, and on January 28, 2025. The table also shows the implied value of the merger consideration to be issued in exchange for each share of Bremer common stock, reflecting (i) $26.22 in cash without interest and (ii) the exchange ratio of 4.182.

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TABLE OF CONTENTS

| ​                 | ​ | ​ | Old NationalCommon Stock |   |       |   | ​ | ​ | ImpliedValue ofMergerConsiderationFor Each Share |   |        |   | ​ |
|:------------------|:--|:--|:-------------------------|:--|------:|:--|:--|:--|:-------------------------------------------------|:--|-------:|:--|:--|
| November 22, 2024 | ​ | ​ | ​                        | $ | 21.65 | ​ | ​ | ​ | ​                                                | $ | 116.76 | ​ | ​ |
| January 28, 2025  | ​ | ​ | ​                        | $ | 23.58 | ​ | ​ | ​ | ​                                                | $ | 124.83 | ​ | ​ |

Based on the number of shares of Bremer common stock outstanding as of the date of the merger agreement, Old National expects to issue approximately 50.2 million shares of Old National common stock to Bremer shareholders upon completion of the mergers, which will result in current Bremer shareholders owning approximately 13.59% of outstanding Old National common stock. Bremer’s Reasons for the Mergers; Recommendation of the Bremer Board of Directors (page 42) The Bremer board of directors has unanimously (i) determined that the merger agreement and the transactions contemplated thereby, including the mergers and the bank merger, are advisable and in the best interests of Bremer and the Bremer shareholders and (ii) approved and adopted the execution, delivery and performance by Bremer of the merger agreement and the consummation of the transactions contemplated thereby,