Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 21

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 21
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 wholly-owned banking subsidiary, Bremer Bank, a national banking association, will merge with and into Old National’s wholly-owned banking subsidiary, Old National Bank, a national banking association, with Old National Bank as the surviving bank (the “bank merger”).

Under the terms and subject to the conditions set forth in the merger agreement, Bremer shareholders will receive cash and Old National common stock for each of their shares of Bremer Class A common stock and Bremer Class B common stock (together, the “Bremer common stock”). At the effective time of the first step merger, each outstanding share of Bremer common stock (except for dissenting shares, shares of treasury stock or shares owned by Bremer, Old National or ONB Merger Sub, in each case other than shares held in trust accounts, managed accounts, mutual funds and the like, or otherwise held in a fiduciary or agency capacity that are beneficially owned by third parties, or held, directly or indirectly, as a result of debts previously contracted) will be converted into the right to receive (i) $26.22 in cash without interest and (ii) 4.182 shares of Old National common stock. No fractional shares of Old National common stock will be issued in the mergers and holders of Bremer common stock will be entitled to receive cash in lieu of fractional shares. Because the merger consideration is comprised of a fixed amount of cash consideration plus a fixed amount of shares of Old National common stock for each share of Bremer common stock, the market value of the merger consideration will fluctuate with the market price of Old National common stock and will not be known at the time Bremer shareholders vote on the merger agreement. Based on the closing stock price of Old National common stock on the NASDAQ Stock Exchange, as reported by The Wall Street Journal , of $[ ] as of [ ], 2025, the latest practicable trading day before the date of this proxy statement/prospectus, the value of the per share merger consideration payable to holders of Bremer common stock was approximately $[ ] 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 [ ], 2025,