Company: ONBPP
Filing Date: 2025-05-28
Form Type: 8-K
Source: 0000707179-25-000011
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Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-05-28
Form: 8-K
Item: Item 8.01
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Item 8.01 Other Events.

Forward Sale Agreements

As previously reported on the Current Reports on Form 8-K filed on November 25, 2024 (the “ November 25th Form 8-K”) and November 26, 2024 (the “ November 26th Form 8-K”), on November 25, 2024, Old National Bancorp (the “ Company”) entered into (i) an underwriting agreement (the “ Underwriting Agreement”) with Citigroup Global Markets Inc., as representative for the underwriters named therein (collectively, the “ Underwriters”), Citibank, N. A., acting in its capacity as the forward purchaser (the “ Forward Purchaser”), and Citigroup Global Markets Inc., acting in its capacity as the forward seller (the “ Forward Seller”), relating to the registered public offering and sale by the Forward Seller of 19,047,619 shares of common stock, no par value, of the Company (“ Company Common Stock”), and (ii) a forward sale agreement (the “ Forward Sale Agreement”) with the Forward Purchaser relating to 19,047,619 shares of Company Common Stock. Pursuant to the Underwriting Agreement, the Underwriters were also granted a 30-day option to purchase up to an additional 2,857,143 shares of Company Common Stock.

On November 25, 2024, the Underwriters exercised in full their option to purchase the additional 2,857,143 shares of Company Common Stock pursuant to the Underwriting Agreement and, in connection therewith, the Company entered into an additional forward sale agreement (the “ Additional Forward Sale Agreement”) with the Forward Purchaser relating to 2,857,143 shares of Company Common Stock, on terms essentially similar to those contained in the Forward Sale Agreement.

The Company physically settled in full the Forward Sale Agreement and the Additional Forward Sale Agreement on May 23, 2025 by delivering 21,904,762 shares of Company Common Stock to the Forward Purchaser. The Company received net proceeds from such sale of shares of Company Common Stock and full physical settlement of the Forward Sale Agreement and the Additional Forward Sale Agreement of approximately $443.2 million.

The descriptions of the Underwriting Agreement, the Forward Sale Agreement and the Additional Forward Sale Agreement set forth above do not purport to be complete and are qualified in their respective entireties by reference to the terms and conditions of the Underwriting Agreement and the Forward Sale Agreement, which are filed as Exhibits 1.