Company: ONBPP
Filing Date: 2025-02-03
Form Type: 424B3
Source: 0001104659-25-008430
Chunk: 9

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-03
Form: 424B3
Chunk 9
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) $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 $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.

Based on the number of shares of Bremer common stock outstanding as of the date of the merger agreement, Old National expects to issue approximately 50.2 million shares of Old National common stock to Bremer shareholders upon completion of the mergers, which will result in current Bremer shareholders owning approximately 13.59% of outstanding Old National common stock.

Q:

How does the Bremer board of directors recommend that I vote at the Bremer special meeting?

A:

The Bremer board of directors unanimously recommends that you vote “

#### FOR
” the merger proposal and “

#### FOR
” the adjournment proposal.

Q:

Will the value of the merger consideration change between the date of this proxy statement/prospectus and the time the mergers are completed?

A:

Yes. 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 value of the merger consideration will fluctuate based upon the market value of Old National common stock. Any fluctuation in the market price of Old National common stock after the date of this proxy statement/prospectus will change the value of the shares of Old National common stock that Bremer shareholders will receive upon completion of the mergers.

Based on the $26.22 in cash without interest and 4.182 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