Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 120

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 120
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 to be received by holders of Huntington common stock. These analyses do not purport to be appraisals or to necessarily reflect the prices at which the business or securities actually may be sold. Any estimates contained in these analyses are not necessarily indicative of actual future results, which may be significantly more or less favorable than those suggested by such estimates. Accordingly, estimates used in, and the results derived from, Evercore’s analyses are inherently subject to substantial uncertainty, and Evercore assumes no responsibility if future results are materially different from those forecasted in such estimates.

Evercore’s financial advisory services and its opinion were provided for the information and benefit of the Huntington board of directors (in its capacity as such) in connection with its evaluation of the proposed merger. The issuance of Evercore’s opinion was approved by an Opinion Committee of Evercore.

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Evercore did not recommend any specific exchange ratio to the Huntington board of directors or Huntington’s management or that any specific exchange ratio constituted the only appropriate exchange ratio in the merger for the holders of Huntington common stock.

Pursuant to the terms of Evercore’s engagement letter with the Huntington board of directors, Huntington has agreed to pay Evercore a fee for its services in the aggregate amount of approximately $35.0 million, of which (1) $2.0 million was payable upon delivery of Evercore’s opinion and is fully creditable against any fee payable upon the consummation of the merger and (2) approximately $33.0 million will be payable contingent upon the consummation of the merger. Huntington has also agreed to reimburse Evercore for its expenses and to indemnify Evercore against certain liabilities arising out of its engagement.

During the two-year period prior to the date hereof, Evercore and its affiliates have provided financial advisory or other services to Huntington and received fees for the rendering of these services in the amount of approximately $10 million. In addition, during the two-year period prior to the date hereof, Evercore and its affiliates have not been engaged to provide financial advisory or other services to Cadence and have not received any compensation from Cadence during such period. Evercore may provide financial advisory or other services to Huntington and Cadence in the future, and in connection with any such services Evercore may receive compensation.

Evercore and its affiliates engage in a wide range of activities for its and their own accounts and the accounts of customers, including corporate finance, mergers and acquisitions, equity sales, trading and