Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 2

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 2
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 IS VERY IMPORTANT To the Stockholders of Bancorp Financial, Inc.: On February 24, 2025, Old Second Bancorp, Inc., which we refer to as “Old Second,” and Bancorp Financial, Inc., which we refer to as “Bancorp Financial,” entered into an Agreement and Plan of Merger, which we refer to as the “merger agreement.” Under the merger agreement, Bancorp Financial will merge with and into Old Second, with Old Second as the surviving corporation, in a transaction that we refer to as the “merger.” Immediately following the merger, Bancorp Financial’s wholly owned subsidiary, Evergreen Bank Group, an Illinois state-chartered bank, will merge with and into Old Second’s wholly owned subsidiary, Old Second National Bank, a national banking association, with Old Second National Bank as the surviving bank. If the merger is completed, each outstanding share of Bancorp Financial common stock (except for treasury stock or shares owned by Old Second or its subsidiaries and Bancorp Financial or its subsidiaries, in each case, other than shares held in a fiduciary or agency capacity or as a result of debts previously contracted, and shares held by Bancorp Financial stockholders who properly exercise dissenters’ rights) will be converted into the right to receive 2.5814 shares of Old Second common stock and $15.93 in cash, without interest, which together with cash in lieu of any fractional shares, we refer to as the “merger consideration.” The value of the consideration to be received by Bancorp Financial stockholders will fluctuate with changes in the per share price of Old Second’s common stock. We urge you to obtain current market quotations for shares of Old Second. Old Second common stock is listed on The Nasdaq Stock Market, or “NASDAQ,” under the symbol “OSBC.” Bancorp Financial common stock is not quoted or traded on any securities exchange. Based on the closing price of Old Second common stock on February 24, 2025, the last trading day before public announcement of the merger, of $18.08 per share, the merger consideration represented approximately $62.60 in value for each share of Bancorp Financial common stock. Based on the closing price of Old Second common stock on May 5, 2025, the last practicable trading date before the date of this proxy statement/ prospectus, of $16.41 per share, the merger consideration represented approximately $58.29 in value for each share of Bancorp Financial common stock.
We urge