Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 3

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 3
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 will drive significant opportunities for our team members. In the merger, holders of Cadence common stock will receive 2.475 shares (the “exchange ratio” and such shares, the “merger consideration”) of Huntington common stock for each share of Cadence common stock they own. Holders of Huntington common stock will continue to own their existing shares of Huntington common stock. Based on the closing price of Huntington common stock on the Nasdaq Global Select Market (the “NASDAQ”) on October 24, 2025, the last trading day before public announcement of the merger, the exchange ratio represented approximately $39.77 in value for each share of Cadence common stock. Based on the closing price of Huntington common stock on the NASDAQ on November 28, 2025, the last practicable trading day before the date of this joint proxy statement/prospectus, of $16.30, the exchange ratio represented approximately $40.34 in value for each share of Cadence common stock. The value of the Huntington common stock at the time of completion of the merger could be greater than, less than or the same as the value of Huntington common stock on the date of this joint proxy statement/prospectus. We urge you to obtain current market quotations of Huntington common stock (trading symbol “HBAN”) and Cadence common stock (trading symbol “CADE”). In addition, each share of Cadence Series A preferred stock issued and outstanding immediately prior to the effective time of the merger will be converted into the right to receive one (1) depositary share representing one one-thousandth (1/1000th) of a share of a newly issued series of Huntington preferred stock having such powers, preferences or special rights that are not materially less favorable to the holders thereof than the powers, preferences or special rights of the Cadence Series A preferred stock, as set forth in the merger agreement (the “new Huntington preferred stock”). The depositary shares representing one one-thousandth (1/1000th) of a share of new Huntington preferred stock are expected to be listed on the NASDAQ upon completion of the merger. The merger is intended to qualify as a “reorganization” for U.S. federal income tax purposes. Accordingly, U.S. holders (as defined in the section entitled “Material U.S. Federal Income Tax Consequences of the Merger”) of Cadence common stock generally will not recognize any gain or loss for U.S. federal income tax purposes on the exchange of shares of Cadence common stock