Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 50

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 50
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     |        2.475 |
| Huntington shares to be issued                                    |     |          461,110 |     |      461,110 |     |      461,110 |
| Price per share of Huntington common stock(b)                     |     |           $16.07 |     |       $17.68 |     |       $14.46 |
| Estimated consideration for common stock                          |     |           $7,410 |     |       $8,152 |     |       $6,668 |
| Estimated consideration for equity awards                         |     |              183 |     |          202 |     |          165 |
| Estimated preferred stock fair value adjustment                   |     |              -16 |     |          -16 |     |          -16 |
| Estimated fair value of preliminary purchase price consideration  |     |           $7,577 |     |       $8,338 |     |       $6,817 |
| Preliminary goodwill                                              |     |           $3,525 |     |       $4,286 |     |       $2,765 |

Preliminary purchase consideration allocation The assumed accounting for the merger, including the preliminary purchase price consideration, is based on provisional amounts, as the associated purchase accounting will not be finalized until after the merger has occurred. The preliminary allocation of the purchase price to the assets acquired and liabilities assumed was based upon preliminary estimates of fair value. The final determination of the estimated fair values, the assets’ useful lives, and the amortization methods are dependent upon certain valuations and other analyses that have not yet been completed. Actual results may differ materially from the assumptions within the accompanying unaudited pro forma condensed combined financial information. The unaudited pro forma adjustments are based upon available information and certain assumptions that Huntington believes are reasonable under the circumstances. The purchase price adjustments relating to the unaudited pro forma condensed combined financial information are preliminary and subject to change as additional information becomes available and as additional analyses are performed.

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TABLE OF CONTENTS

The following table summarizes the allocation of the preliminary purchase consideration to the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed of Cadence as if the merger had been completed on September 30, 2025, with the excess recorded to goodwill.

| (dollars in millions)                                            |     |        |
| Cadence Net Assets at Fair Value                                 |     |        |
| Assets acquired:                                                 |     |        |
| Cash and due from banks and interest-bearing