Company: ONBPP
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001104659-25-007256
Chunk: 12

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-29
Form: S-4/A
Chunk 12
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.182 shares of Old National common stock that each share of Bremer common stock would receive in the mergers, and the closing stock price of Old National common stock on the NASDAQ Stock Exchange, as reported by The Wall Street Journal , of $23.58 as of January 28, 2025, the value of the per share merger consideration payable to holders of Bremer common stock was approximately $124.83 as of such date.

Similar to virtually all publicly-traded stock, the trading price of Old National common stock will continue to change. We suggest that you obtain current market quotations for Old National common stock, which is currently traded on the NASDAQ Stock Exchange under the trading symbol “ONB”.

Q:

Does Old National pay regular dividends on its shares of common stock?

A:

Yes. Old National has traditionally paid a quarterly cash dividend on its shares of common stock. The

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payment of dividends is subject to approval by the Old National board of directors as well as legal and regulatory restrictions and safety and soundness considerations. Any payment of dividends in the future will depend, in large part, on Old National’s earnings, capital requirements, financial condition and other factors considered relevant by its board of directors.

Old National declared quarterly cash dividends of $0.14 per share on its common stock in each of 2024, 2023, 2022, and 2021. The amount of quarterly cash dividends paid on shares of Old National common stock is subject to change based on the quarterly dividend amounts approved by the Old National board of directors.

Q:

What are the U.S. federal income tax consequences of the mergers to Bremer shareholders?

A:

The parties intend for the mergers, taken together, to qualify as a “reorganization” within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended (the “Code”). Therefore, U.S. holders of shares of Bremer common stock will recognize gain, but not loss, for U.S. federal income tax purposes in an amount equal to the lesser of (i) the amount of cash received for the cash portion of the merger consideration (other than cash received in lieu of a fractional share of Old National common stock) and (ii) the excess, if any, of (a) the sum of the amount of such cash and the fair value of the Old National common stock received in the mergers, over (b) the U.S