Company: OSBC
Filing Date: 2025-05-08
Form Type: 424B3
Source: 0001104659-25-046065
Chunk: 34

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-08
Form: 424B3
Chunk 34
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 of Certain Documents by Reference” beginning on page 126.

Risks Relating to the Consummation of the Merger and the Combined Company Following the Merger

Because the exchange ratio is fixed and the market price of shares of Old Second common stock has fluctuated and will continue to fluctuate, Bancorp Financial stockholders cannot be sure of the value of the stock component of the merger consideration they will receive in the merger.

Upon completion of the merger, each share of Bancorp Financial common stock outstanding immediately prior to the effective time of the merger (except for treasury stock or shares owned by Old Second and Bancorp Financial, in each case, other than shares held on behalf of third parties or as a result of debts previously contracted, and shares held by Bancorp Financial stockholders who properly exercise dissenters’ rights) will be converted into the right to receive 2.5814 shares of Old Second common stock, which we refer to as the “exchange ratio,” and $15.93 in cash, without interest.

Because the exchange ratio of 2.5814 shares of Old Second common stock for each share of Bancorp Financial common stock is fixed, the value of the per share consideration will depend on the market price of shares of Old Second common stock at the time the merger is completed. The market price of shares of Old Second common stock has fluctuated since the date of the announcement of the merger agreement and will continue to fluctuate from the date of this proxy statement/prospectus to the date of the Bancorp Financial special meeting and the date the merger is completed and thereafter. Accordingly, at the time of the Bancorp Financial special meeting, Bancorp Financial stockholders will not know or be able to determine the market value of the stock component of the merger consideration they would be entitled to receive upon completion of the merger.

Changes in the market price of Old Second common stock may result from a variety of factors, including, but not limited to, changes in sentiment in the market regarding Old Second’s operations or business prospects, including market sentiment regarding Old Second’s entry into the merger agreement. These risks may also be affected by:

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operating results that vary from the expectations of Old Second’s management or of securities analysts and investors;

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developments in Old Second’s business or in the financial services sector generally;

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regulatory or legislative changes affecting the banking industry generally or Old Second’s business and operations;

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operating and securities price performance of companies that investors consider to be comparable to Old Second;

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changes in estimates or