Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 42

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 42
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 have an interest in acquiring all or a significant part of ESSA from pursuing such acquisition. For more information, see the section entitled “The Merger Agreement—No Solicitation” beginning on page 163 and “The Merger Agreement—Termination Fee” beginning on page 170.

ESSA shareholders do not have dissenters’ or appraisal rights in the merger.

Dissenters’ rights are statutory rights that, if applicable under law, enable shareholders to dissent from an extraordinary transaction, such as a merger, and to demand that the corporation pay the fair value for their shares as determined by a court in a judicial proceeding instead of receiving the consideration offered to shareholders in connection with the extraordinary transaction. Under Pennsylvania law, holders of ESSA common stock will not be entitled to dissenters’ or appraisal rights in the merger with respect to their shares of ESSA common stock.

The unaudited pro forma financial data included in this joint proxy statement/prospectus is illustrative only, and may differ materially from CNB’s actual financial position and results of operations after the merger.

The unaudited pro forma financial data in this joint proxy statement/prospectus is presented for illustrative purposes only and is not necessarily indicative of what CNB’s actual financial position or results of operations would have been had the merger been completed on the dates indicated. The pro forma financial data reflects adjustments, which are based on preliminary estimates, to record ESSA’s identifiable assets acquired and liabilities assumed at fair value and the resulting goodwill recognized. The purchase price allocation reflected in this joint proxy statement/prospectus is preliminary and final allocation of the purchase price will be based on the actual purchase price and the fair value of the assets and liabilities of ESSA as of the date of the completion of the merger. As a result, the final acquisition accounting adjustments may differ materially from the pro forma adjustments reflected in this joint proxy statement/prospectus.

The fairness opinions received by the CNB Board of Directors from Piper Sandler and by the ESSA Board of Directors from PNC FIG Advisory prior to execution of the merger agreement do not reflect changes in circumstances subsequent to the date of the fairness opinions.

The opinion of Piper Sandler, CNB’s financial advisor in connection with the proposed merger, and the opinion of PNC FIG Advisory, ESSA’s financial advisor in connection with the proposed merger, were delivered to the boards of directors of CNB and ESSA, respectively, on, and dated, January 9, 2025. Each