Company: FRME
Filing Date: 2025-09-25
Form Type: 8-K
Source: 0001193125-25-216440
Chunk: 1

Company: FIRST MERCHANTS CORP
Filing Date: 2025-09-25
Form: 8-K
Item: Item 1.01
Chunk 1
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10) days preceding the fourth calendar day prior to the date of the Merger, over (B) the applicable exercise price.

Based on the number of shares of First Savings common stock currently outstanding, First Merchants expects to issue approximately 5.95 million shares of its common stock, in exchange for all of the issued and outstanding shares of First Savings common stock. Based on the closing price of First Merchants’ common stock on September 24, 2025 of $39.53 per share, the implied value for a share of First Savings common stock is $33.60. The aggregate transaction value is estimated at approximately $241.3 million.

The Boards of Directors of both First Merchants and First Savings have approved the Merger Agreement. The members of the Board of Directors of First Savings and certain executive officers of First Savings have entered into a Voting Agreement pursuant to which each of them has agreed to vote their shares of First Savings common stock in favor of the Merger. A copy of the Voting Agreement is filed as Exhibit 10.1 and incorporated herein by reference.

The Merger Agreement contains representations, warranties and covenants of First Savings and First Merchants, including, among others, covenants (i) to, subject to certain exceptions as more fully set forth in the Merger Agreement, conduct their respective businesses in the ordinary course during the period between the execution of the Merger Agreement and consummation of the Merger, and (ii) prohibiting First Savings, subject to certain exceptions more fully set forth in the Merger Agreement, from engaging in certain kinds of transactions during such period. The Board of Directors of First Savings has adopted a resolution recommending the approval and adoption of the Merger Agreement by its common shareholders, and First Savings has agreed to hold a shareholder meeting to put the Merger before its common shareholders for consideration. First Savings has also agreed, for a period of time and subject to certain exceptions as set forth in the Merger Agreement, not to (i) solicit proposals relating to alternative business combination transactions or (ii) enter into discussions or negotiations or provide confidential information in connection with any proposals for alternative business combination transactions.

Consummation of the Merger is subject to various conditions, including, among others, (i) requisite approval of the holders of First Savings common stock; (ii) effectiveness of a Form S-4registration statement relating to the shares of First Merchants common stock to be issued in the Merger, (iii) authorization for listing on the Nasdaq Global Select