Company: ONBPP
Filing Date: 2025-02-03
Form Type: 424B3
Source: 0001104659-25-008430
Chunk: 0

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-03
Form: 424B3
Chunk 0
---
TABLE OF CONTENTS

#### Filed Pursuant to Rule 424(b)(3)​

#### Registration File No. 333-284281​

#### MERGER PROPOSED — YOUR VOTE IS VERY IMPORTANT
To the Shareholders of Bremer Financial Corporation:

On November 25, 2024, Old National Bancorp (“Old National”), Bremer Financial Corporation (“Bremer”), and ONB Merger Sub, Inc. (“ONB Merger Sub”), a wholly-owned subsidiary of Old National, entered into an Agreement and Plan of Merger (“merger agreement”) that provides for the acquisition of Bremer and its wholly-owned banking subsidiary, Bremer Bank, a national banking association, by Old National.

Under the merger agreement, ONB Merger Sub will first merge with and into Bremer (the “first step merger”), with Bremer as the surviving corporation in the first step merger as a wholly-owned subsidiary of Old National. Immediately following the first step merger, and as part of a single, integrated transaction, Bremer will then merge with and into Old National (the “second step merger” and together with the first step merger, the “mergers”), with Old National as the surviving corporation in the second step merger. Immediately following the second step merger, or at a later time as determined by Old National, Bremer Bank will merge with and into Old National’s wholly-owned banking subsidiary, Old National Bank, a national banking association, with Old National Bank as the surviving bank (the “bank merger”).

Under the terms and subject to the conditions set forth in the merger agreement, Bremer shareholders will receive (i) cash and (ii) Old National common stock for each of their shares of Bremer Class A common stock and Bremer Class B common stock (together, the “Bremer common stock”). At the effective time of the first step merger, each outstanding share of Bremer common stock (except for dissenting shares, shares of treasury stock or shares owned by Bremer, Old National or ONB Merger Sub, in each case other than shares held in trust accounts, managed accounts, mutual funds and the like, or otherwise held in a fiduciary or agency capacity that are beneficially owned by third parties, or held, directly or indirectly, as a result of debts previously contracted) will be converted into the right to receive (i) $26.22 in cash without interest and (ii) 4.182 shares of Old National common stock. No fractional shares of