Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 18

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 18
---
 the right to receive 3,301.0920 shares of Class A common stock and (ii) Mechanics non-voting common stock will be converted into the right to receive 330.1092 shares of the Class B common stock, except, to the extent applicable, for Mechanics common stock owned by HomeStreet or Mechanics, in each case other than shares (x) held in certain accounts or a fiduciary or agency capacity that are beneficially owned by third parties or (y) held by HomeStreet or Mechanics in respect of debts previously contracted. It is expected that Mechanics shareholders as of immediately prior to the merger, as a group, will own approximately 91.7% of the outstanding shares of the combined company on an economic basis and 91.3% of the voting power of the combined company. |

No new certificates or scrip representing fractional shares of HomeStreet common stock will be issued upon the surrender for exchange of old certificates of Mechanics common stock, no dividend or distribution with respect to HomeStreet common stock will be payable on or with respect to any fractional share, and such fractional share interests will not entitle the owner thereof to vote or to any other rights of a shareholder of HomeStreet (or the combined company). In lieu of the issuance of any such fractional share, HomeStreet will pay to each Mechanics shareholder who otherwise would be entitled to receive such fractional share an amount in cash rounded to the nearest cent. This cash amount will be determined by multiplying (i) the average of the closing-sale prices of HomeStreet common stock on the Nasdaq or NYSE, as applicable, as reported by The Wall Street Journalfor the consecutive period of five (5) full trading days ending on the day preceding the closing date by (ii) the fraction of a share (after taking into account all shares of Mechanics common stock held by such holder immediately prior to the effective time and rounded to the nearest thousandth when expressed in decimal form) of HomeStreet common stock which such holder would otherwise be entitled to receive pursuant to the merger agreement (and, in the case of rounding in respect of Class B common stock, multiplied by ten (10), subject to adjustment as provided in the amended and restated articles).

| Q: | What will HomeStreet shareholders receive in the merger? |

| A: | In the merger, HomeStreet shareholders will not receive any consideration. After the effective time, HomeStreet shareholders will continue to own their existing shares of HomeStreet common stock (which will be designated as Class A common stock pursuant to the