Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 142

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 142
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 extraordinary dividends), (ii) securities of another company owned (directly or indirectly) by Old National as a result of a spin-off or similar transaction or (iii) any other type of securities (other than Old National common stock), rights, warrants or other assets for payment at less than the prevailing market price, as reasonably determined by the forward purchaser;

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there is an announcement of any event or transaction that, if consummated, would result in certain extraordinary events (as such term is defined in the forward sale agreements and that includes certain mergers (other than the mergers or the bank merger) and tender offers and the delisting of Old National common stock); or

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certain other events of default, termination events or other specified events occur, including, among other things, any material misrepresentation made by Old National in connection with entering into the forward sale agreements or the occurrence of a hedging disruption or a change in law (as such terms are defined in the forward sale agreements).

The forward purchaser’s decision to exercise its right to accelerate the settlement of the forward sale agreements will be made irrespective of Old National’s need for capital. In such cases, Old National could be required to issue and deliver shares of Old National common stock under the physical settlement provisions of the forward sale agreements irrespective of Old National’s capital needs, which would result in dilution to Old National’s earnings per share and return on equity. In addition, upon certain events of bankruptcy or insolvency related to Old National, the forward sale agreements will terminate without further liability of any party. Following any such termination, Old National would not issue any shares of Old National common stock or receive any proceeds pursuant to the forward sale agreements.

Old National expects to physically settle the forward sale agreements (by the delivery of shares of Old National common stock) and receive proceeds from the sale of those shares of Old National common stock upon one or more forward settlement dates within approximately 12 months from the date of the forward sale agreements. Old National may also elect cash settlement or net share settlement for all or a portion of its obligations under the forward sale agreements. Upon physical settlement or, if Old National so elects, net share settlement of the forward sale agreements, delivery of shares of Old National common stock in connection with such physical settlement or (to the extent Old National is obligated to deliver shares of its common stock) net share settlement will result in dilution to Old National’s earnings per share and return on equity. If Old National elects cash settlement or net share settlement with respect to all