Company: HBAN
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001140361-25-029894
Chunk: 292

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-08-08
Form: S-4/A
Chunk 292
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 the Effective Time, except for the Exception Shares (as defined in the Agreement), shall be converted into the right to receive 1.95 shares of the common stock, par value $0.01 per share, of Huntington (“Huntington Common Stock”). The ratio of 1.95 shares of Huntington Common Stock for one share of Veritex Common Stock is referred to herein as the “Exchange Ratio.” The terms and conditions of the Merger are more fully set forth in the Agreement. The Agreement also provides that, immediately following the Merger, Veritex Community Bank, a wholly-owned subsidiary of Veritex, will merge with and into The Huntington National Bank, a wholly owned subsidiary of Huntington, with The Huntington National Bank as the surviving entity, pursuant to a separate bank merger agreement (the “Bank Merger”). KBW has acted as financial advisor to Veritex and not as an advisor to or agent of any other person. As part of our investment banking business, we are continually engaged in the valuation of bank and bank holding company securities in connection with acquisitions, negotiated underwritings, secondary distributions of listed and unlisted securities, private placements and valuations for various other purposes. As specialists in the securities of banking companies, we have experience in, and knowledge of, the valuation of banking enterprises. We and our affiliates, in the ordinary course of our and their broker-dealer businesses (and further to existing sales and trading relationships between a KBW broker-dealer affiliate and each of Veritex and Huntington), may from time to time purchase securities from, and sell securities to, Veritex and Huntington. In addition, as market makers in securities, we and our affiliates may from time to time have a long or short position in, and buy or sell, debt or equity securities of Veritex or Huntington for our and their own respective accounts and for the accounts of our and their respective customers and clients. We have acted exclusively for the board of directors of Veritex (the “Board”) in rendering this opinion and will receive a fee from Veritex for our services. A portion of our fee is payable concurrently with Veritex entering into the Agreement (subject to the rendering of this opinion), and a significant portion is contingent upon the successful completion of the Merger. In addition, Veritex has agreed to indemnify us for certain liabilities arising out of our engagement. Other than in connection with this present engagement, KBW has not provided investment banking or financial advisory services to Veritex