Company: OSBC
Filing Date: 2025-04-23
Form Type: S-4
Source: 0001104659-25-037832
Chunk: 43

Company: OLD SECOND BANCORP INC
Filing Date: 2025-04-23
Form: S-4
Chunk 43
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 and executive officers may have interests in the merger that may differ from, or be in addition to, the interests of holders of Bancorp Financial common stock generally.

Holders of Bancorp Financial common stock should be aware that some of Bancorp Financial’s directors and executive officers may have interests in the merger and have arrangements that are different from, or in addition to, those of holders of Bancorp Financial common stock generally. These interests and arrangements may create potential conflicts of interest. The Bancorp Financial board of directors was aware of these interests and considered these interests, among other matters, when making its decision to approve the merger and merger agreement, and in recommending that stockholders vote to approve the merger proposal. For a more complete description of these interests, please see the section entitled “The Merger — Interests of Bancorp Financial’s Directors and Executive Officers in the Merger” beginning on page 56.

Old Second and Bancorp Financial will be subject to business uncertainties and contractual restrictions while the merger is pending, which could adversely affect each party’s business and operations.

Uncertainty about the effect of the merger on customers may have an adverse effect on Old Second and/or Bancorp Financial. These uncertainties could cause customers and others that deal with Old Second and/or Bancorp Financial to seek to change existing business relationships with Old Second and/or Bancorp Financial. In addition, subject to certain exceptions, Old Second and Bancorp Financial have each agreed to operate its business in all material respects in the ordinary course of business consistent with past practice and to use reasonable best efforts to preserve its rights, franchises, goodwill and relations of its customers, clients and others with whom business relationships exist until the merger occurs and to refrain from taking other specified actions without the consent of the other party. These restrictions may prevent Old Second and/or Bancorp Financial from pursuing attractive business opportunities that may arise prior to the completion of the merger. See “The Merger Agreement — Covenants and Agreements” beginning on page 66.

The merger agreement contains provisions that could discourage a potential competing acquirer that might be willing to pay more to acquire or merge with Bancorp Financial.

The merger agreement contains provisions that restrict Bancorp Financial’s ability to, among other things, initiate, solicit, knowingly encourage or facilitate, inquiries or proposals with respect to, or, subject to certain exceptions generally related to the exercise of fiduciary duties by the Bancorp Financial board of directors, engage in any negotiations concerning, or provide any confidential information relating to, any alternative acquisition proposals. These provisions, which