Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 64

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 64
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 immediately after the merger and current holders of Huntington common stock as a group are estimated to own approximately seventy-seven percent (77%) of the fully diluted shares of Huntington immediately after the merger. Because of this, holders of Cadence common stock may have less influence on the management and policies of Huntington than they now have on the management and policies of Cadence, and holders of Huntington common stock may have less influence on the management and policies of Huntington than they now have on the management and policies of Huntington.

Issuance of shares of Huntington common stock in connection with the merger may adversely affect the market price of Huntington common stock .

In connection with the payment of the merger consideration, Huntington expects to issue approximately 461 million shares of Huntington common stock to Cadence shareholders. The issuance of these new shares of Huntington common stock may result in fluctuations in the market price of Huntington common stock, including a stock price decrease.

Holders of Huntington common stock and holders of Cadence common stock will not have appraisal rights or dissenters’ rights in the merger .

Appraisal rights (also known as dissenters’ rights) are statutory rights that, if applicable under law, enable shareholders to dissent from an extraordinary transaction, such as a merger, and to demand that the corporation pay the fair value for their shares as determined by a court in a judicial proceeding instead of receiving the consideration offered to shareholders in connection with the extraordinary transaction.

Under Section 3-202 of the MGCL, the holders of Huntington common stock will not be entitled to appraisal or dissenters’ rights in connection with the merger.

Under Section 79-4-13.02(b)(2)(i) of the MBCA, the holders of Cadence common stock will not be entitled to appraisal or dissenters’ rights in connection with the merger if, on the record date for the Cadence special meeting, Cadence’s shares are listed on a national securities exchange. Cadence common stock is currently listed on the NYSE, a national securities exchange, and is expected to continue to be so listed on the record date for the Cadence special meeting. Accordingly, the holders of Cadence common stock are not entitled to any appraisal or dissenters’ rights in connection with the merger.

The merger agreement limits Cadence’s ability to pursue alternatives to the merger and may discourage other companies from trying to acquire Huntington or Cadence .

The merger agreement contains “no shop” covenants that restrict Cadence’s ability to, directly or indirectly, initiate, solicit, knowingly encourage or knowingly facilitate any inquiries or