Company: HBAN
Filing Date: 2025-07-21
Form Type: S-4
Source: 0001140361-25-026508
Chunk: 56

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-07-21
Form: S-4
Chunk 56
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 officer of a regional bank holding company (Company B) who was interested in learning more about Veritex and considering evaluating a possible business combination transaction between Veritex and Company B. They met in Dallas, Texas in February 2025

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and, thereafter, spoke periodically, including regarding a possible business combination between Veritex and Company B in which Company B would be the surviving company. Mr. Holland periodically advised the Veritex Board of his conversations with the chief executive officer of Company B.

On March 5, 2025, Mr. Holland and Mr. Terry Earley, Veritex’s chief financial officer at the time, traveled to Company B’s offices to meet with the chief executive officer of Company B and other senior management members of Company B to further familiarize themselves with each other’s bank, including the markets in which each bank operates, and evaluate the financial aspects of a possible business combination transaction. The chief executive officer of Company B orally expressed interest to Mr. Holland in pursuing a business combination transaction between Veritex and Company B and that Company B planned to provide Veritex with a written proposal for such a business combination transaction.

On March 13, 2025, Company B delivered to Veritex a letter of intent (which we refer to as the “Company B LOI”) that, among other things, contemplated an all-stock transaction in which Company B was the acquirer and an exchange ratio range valuing each share of Veritex common stock at $26.23-$27.43 (based on the then-current stock price of Company B), which represented a premium of 10%-15% of Veritex’s current stock price, and requested eight weeks of exclusivity. Thereafter, on March 13, 2025, Mr. Holland and Mr. Earley discussed the Company B LOI with representatives of Keefe, Bruyette & Woods, Inc. (which we refer to as “KBW”), Veritex’s financial advisor, and Simpson Thacher & Bartlett LLP (which we refer to as “Simpson Thacher”), Veritex’s legal counsel. Mr. Holland then called a special meeting of the Veritex Board Executive Committee to discuss the Company B LOI.

On March 18, 2025, the Veritex Board Executive Committee held a special meeting, which was also attended by members of Veritex’s management and representatives of KBW