Company: ONBPP
Filing Date: 2025-02-03
Form Type: 424B3
Source: 0001104659-25-008430
Chunk: 105

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-03
Form: 424B3
Chunk 105
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 fractional shares of Old National common stock will be issued in the mergers and holders of Bremer common stock will be entitled to receive cash in lieu of fractional shares. Because the merger consideration is comprised of a fixed amount of cash consideration plus a fixed amount of shares of Old National common stock for each share of Bremer common stock, the market value of the merger consideration will fluctuate with the market price of Old National common stock and will not be known at the time Bremer shareholders vote on the merger agreement. Based on the closing stock price of Old National common stock on the NASDAQ Stock Exchange, as reported by The Wall Street Journal , of $23.58 as of January 28, 2025, the value of the per share merger consideration payable to holders of Bremer common stock was approximately $124.83 as of such date.

#### Fractional Shares
Old National will not issue any fractional shares of Old National common stock in the mergers. Instead, a former holder of Bremer common stock who otherwise would have received a fraction of a share of Old National common stock will receive an amount in cash rounded to the nearest cent. This cash amount will be determined by multiplying (i) the average of the closing-sale prices of Old National common stock on the NASDAQ Stock Exchange as reported by The Wall Street Journal for the five (5) full trading days ending on the trading day immediately preceding the closing date of the mergers by (ii) the fraction of a share (rounded to the nearest one-thousandth when expressed in decimal form) of Old National common stock which such holder would otherwise be entitled to receive.

#### Governing Documents
At the effective time of the second step merger, the Old National articles of incorporation and the Old National bylaws as in effect immediately prior to the effective time shall be the articles of incorporation and bylaws of the combined company until thereafter amended in accordance with applicable law.

#### Closing and Effective Time of the Mergers
The closing will occur by electronic exchange of documents at 8:00 a.m., Minneapolis time, on the first business day of the month immediately following the month during which the satisfaction or waiver (subject to applicable law) of the latest to occur of the conditions set forth in the merger agreement (other than those conditions that by their nature can only be satisfied at the closing of the first step merger, but subject to the satisfaction or waiver thereof), or, if such business day is not at least five (5) business days after the aforementioned satisfaction or waiver, then the first