Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 22

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 22
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 the last practicable day before the date of this proxy statement/prospectus. The table also shows the implied value of the merger consideration to be issued in exchange for each share of Bremer common stock, reflecting (i) $26.22 in cash without interest and (ii) the exchange ratio of 4.182.

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TABLE OF CONTENTS

| ​                 | ​ | ​ | Old NationalCommon Stock |   |       |   | ​ | ​ | ImpliedValue ofMergerConsiderationFor Each Share |   |         |   | ​ |
|:------------------|:--|:--|:-------------------------|:--|------:|:--|:--|:--|:-------------------------------------------------|:--|--------:|:--|:--|
| November 22, 2024 | ​ | ​ | ​                        | $ | 21.65 | ​ | ​ | ​ | ​                                                | $ |  116.76 | ​ | ​ |
| [      ], 2025    | ​ | ​ | ​                        | $ | [   ] | ​ | ​ | ​ | ​                                                | $ | [     ] | ​ | ​ |

Based on the number of shares of Bremer common stock outstanding as of the date of the merger agreement, Old National expects to issue approximately 50.2 million shares of Old National common stock to Bremer shareholders upon completion of the mergers, which will result in current Bremer shareholders owning approximately [ ]% of outstanding Old National common stock. Bremer’s Reasons for the Mergers; Recommendation of the Bremer Board of Directors (page 42) The Bremer board of directors has unanimously (i) determined that the merger agreement and the transactions contemplated thereby, including the mergers and the bank merger, are advisable and in the best interests of Bremer and the Bremer shareholders and (ii) approved and adopted the execution, delivery and performance by Bremer of the merger agreement and the consummation of the transactions contemplated thereby, including the mergers and the bank merger. The Bremer board of directors unanimously recommends that Bremer shareholders vote “ FOR ” the merger proposal and “ FOR ” the adjournment proposal. For the factors considered by the Bremer board of directors in reaching its decision to adopt the merger agreement, see “The Merg