Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 98

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 98
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 being qualified by confidential disclosures made for the purposes of allocating contractual risk between the parties to the merger agreement instead of establishing these matters as facts; and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors are not third-party beneficiaries under the merger agreement and should not rely on the representations and warranties or any descriptions thereof as characterizations of the actual state of facts or condition of the parties thereto or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of representations and warranties may change after the date of the merger agreement. Accordingly, the representations and warranties in the merger agreement should not be relied on by any person as characterizations of the actual state of facts about Old Second or Bancorp Financial at the time they were made or otherwise.

#### Structure of the Merger
The Bancorp Financial board of directors and the Old Second board of directors has approved the merger agreement. The merger agreement provides for the merger of Bancorp Financial with and into Old Second, with Old Second continuing as the surviving entity in the merger. Immediately following the completion of the merger, Bancorp Financial’s wholly owned bank subsidiary, Evergreen Bank Group, an Illinois-chartered bank, will merge with and into Old Second’s wholly owned bank subsidiary, Old Second National Bank, a national banking association, with Old Second National Bank as the surviving bank.

#### Merger Consideration
If the merger is completed, each outstanding share of Bancorp Financial common stock (except for treasury stock or shares owned by Old Second and Bancorp Financial, in each case, other than shares held on behalf of third parties or as a result of debts previously contracted, and shares held by Bancorp Financial stockholders who properly exercise dissenters’ rights) will be converted into the right to receive 2.5814 shares of Old Second common stock (which we may refer to as the stock consideration) and $15.93 in cash (which we may refer to as the cash consideration), without interest.

If, prior to the effective time of the merger, the number of outstanding shares of Old Second common stock are changed into or exchanged for a different number or kind of shares or securities as a result of a stock dividend, subdivision, reclassification, recapitalization, split, combination or exchange of shares an appropriate adjustment will be made to the exchange ratio to provide the holders of Bancorp Financial common stock the same economic effect as contemplated by the merger agreement prior to such event.

#### Fractional Shares
Old Second will not issue any