Company: HBAN
Filing Date: 2025-12-29
Form Type: 8-K
Source: 0001140361-25-046769
Chunk: 2

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-29
Form: 8-K
Item: Item 8.01
Chunk 2
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Following agreement in principle on the 2.475 exchange ratio proposed in the Huntington LOI, the parties negotiated the letter agreement between Mr. Rollins and
Huntington containing the terms of Mr. Rollins’ post-merger service arrangement to be effective upon, and subject to, the closing of the Merger (as described under “ The Merger - Interests of Cadence’s Directors and Executive Officers in the Merger” beginning on page 91).

  The disclosure on page 81 of the joint proxy statement/prospectus under the section “ The Merger— Opinion of Cadence’s Financial Advisor” is  

The low and high stock price-to-tangible book value per share multiples of the selected companies in the “ Cadence Selected Companies Analysis” were 0.97x and 2.39x,
respectively, the low and high stock price-to-2025 estimated EPS multiples of the selected companies were 7.4x and 16.8x, respectively, and the low and high stock price-to-2026 estimated EPS multiples of the selected companies were 7.4x and 13.0x,
respectively.

  The disclosure on page 82 of the joint proxy statement/prospectus under the section “ The Merger— Opinion of Cadence’s Financial Advisor” is  

The low and high stock price-to-tangible book value per share multiples of the selected companies in the “ Huntington Selected Companies Analysis” were 1.09x and 1.97x,
respectively, the low and high stock price-to-2025 estimated EPS multiples of the selected companies were 10.4x and 13.5x, respectively, and the low and high stock price-to-2026 estimated EPS multiples of the selected companies were 9.5x and 12.0x,
respectively.

  The disclosure on page 83 of the joint proxy statement/prospectus under the section “ The Merger— Opinion of Cadence’s Financial Advisor” is  

  Acquiror                                    Acquired Company                           Announcement Date  
  The PNC Financial Services Group, Inc.      FirstBank Holding Company                  9/8/2025           
  Columbia Banking System, Inc.               Pacific Premier Bancorp, Inc.              4/23/2025          
  SouthState Corporation                      Independent Bank Group, Inc.               5/20/2024          
  U. S. Bancorp                               MUFG Union Bank, National Association      9