Company: ONBPP
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001104659-25-007256
Chunk: 142

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-29
Form: S-4/A
Chunk 142
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 of bankruptcy or insolvency related to Old National, the forward sale agreements will terminate without further liability of any party. Following any such termination, Old National would not issue any shares of Old National common stock or receive any proceeds pursuant to the forward sale agreements.

Old National expects to physically settle the forward sale agreements (by the delivery of shares of Old National common stock) and receive proceeds from the sale of those shares of Old National common stock upon one or more forward settlement dates within approximately 12 months from the date of the forward sale agreements. Old National may also elect cash settlement or net share settlement for all or a portion of its obligations under the forward sale agreements. Upon physical settlement or, if Old National so elects, net share settlement of the forward sale agreements, delivery of shares of Old National common stock in connection with such physical settlement or (to the extent Old National is obligated to deliver shares of its common stock) net share settlement will result in dilution to Old National’s earnings per share and return on equity. If Old National elects cash settlement or net share settlement with respect to all or a portion of the shares of its common stock underlying the forward sale agreements, then Old National expects that the forward purchaser (or an affiliate thereof) will purchase a number of shares of Old National common stock necessary to satisfy its or its affiliate’s obligation to return the shares of Old National common stock borrowed from third parties in connection with sales of shares of Old National common stock related to the forward sale agreements and, if applicable in connection with net share settlement, to deliver shares of Old National common stock to Old National. If the market value of Old National common stock at the time of such purchase (as determined pursuant to the terms of the forward sale agreements) is above the forward sale price under the forward sale agreements at that time, then Old National would pay or deliver, as the case may be, to the forward purchaser under the forward sale agreements, an amount in cash, or a number of shares of Old National common stock with a market value (as determined pursuant to the terms of the forward sale agreements), equal to such difference. Any such difference could be significant. Conversely, if the market value of Old National’s common stock at the time of such purchase (as determined pursuant to the terms of the forward sale agreements) is below the forward sale price under the forward sale agreements at that time, the forward purchaser will pay or deliver, as the case may be, to Old National under the forward sale agreements, an amount in cash, or a number of