Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 64

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 64
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 could negatively affect the Huntington Parties or Cadence .

If the merger is not completed for any reason, including as a result of Huntington shareholders failing to approve the Huntington share issuance proposal or Cadence shareholders failing to approve the Cadence merger proposal, there may be various adverse consequences and the Huntington Parties and/or Cadence may experience negative reactions from the financial markets and from their respective customers and employees. For example, the Huntington Parties’ or Cadence’s businesses may have been affected adversely by the failure to pursue other beneficial opportunities due to the focus of management on the merger, without realizing any of the anticipated benefits of completing the merger. Additionally, if the merger agreement is terminated, the market price of Huntington’s or Cadence’s common stock could decline to the extent that the current market prices reflect a market assumption that the merger will be completed. If the merger agreement is terminated under certain circumstances, either the Huntington Parties or Cadence may be required to pay a termination fee of $296 million to the other party.

Additionally, the Huntington Parties and Cadence have incurred and will incur substantial expenses in connection with the negotiation and completion of the transactions contemplated by the merger agreement, including legal, accounting and financial advisory costs, as well as the costs and expenses of filing, printing and mailing this joint proxy statement/prospectus, and all filing and other fees paid to the SEC in connection with the merger. If the merger is not completed, the Huntington Parties and Cadence would have to pay these expenses without realizing the expected benefits of the merger.

Cadence will be subject to business uncertainties and contractual restrictions while the merger is pending .

Uncertainty about the effect of the merger on employees and customers may have an adverse effect on Cadence. These uncertainties may impair Cadence’s ability to attract, retain and motivate key personnel until the merger is completed, and could cause customers and others that deal with Cadence to seek to change existing business relationships with Cadence. In addition, subject to certain exceptions, Cadence has agreed to operate its business in the ordinary course prior to closing, and not to take certain actions, which could cause Cadence to be unable to pursue other beneficial opportunities that may arise prior to the completion of the merger. See the section entitled “The Merger Agreement—Covenants and Agreements” beginning on page 107 for a description of the restrictive covenants applicable to Huntington and Cadence.

The shares of Huntington common stock to be received by holders of Cadence common stock as a result of the merger will have different rights from the shares of Cad