Company: OSBC
Filing Date: 2025-04-23
Form Type: S-4
Source: 0001104659-25-037832
Chunk: 19

Company: OLD SECOND BANCORP INC
Filing Date: 2025-04-23
Form: S-4
Chunk 19
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 summary includes a page reference directing you to a more complete description of that item. The Merger (page 35) Old Second and Bancorp Financial have entered into a merger agreement, pursuant to which Bancorp Financial will merge with and into Old Second, with Old Second continuing as the surviving corporation. The terms and conditions of the merger are contained in the merger agreement, which is attached as Annex A to this proxy statement/prospectus. We encourage you to read the merger agreement carefully, as it is the legal document that governs the merger. Immediately following the merger, Evergreen Bank Group will merge with and into Old Second National Bank, with Old Second National Bank as the surviving bank. Merger Consideration (page 62) If the merger is completed, each outstanding share of Bancorp Financial common stock (except for treasury stock or shares owned by Old Second and Bancorp Financial, in each case, other than shares held on behalf of third parties or as a result of debts previously contracted, and shares held by Bancorp Financial stockholders who properly exercise appraisal rights) will be converted into the right to receive 2.5814 shares of Old Second common stock and $15.93 in cash, without interest. Old Second will not issue any fractional shares of Old Second common stock in the merger. Instead, a Bancorp Financial stockholder who otherwise would have received a fraction of a share of Old Second common stock will receive an amount in cash equal to such fraction multiplied by the average closing price of Old Second common stock as quoted on NASDAQ during the five full trading days ending on and including the fifth trading day prior to the date the merger is consummated. The exchange ratio is fixed, which means that it will not change between now and the date of the merger, regardless of whether the market price of either shares of Old Second common stock or Bancorp Financial common stock changes. Therefore, the value of the stock component of the merger consideration will depend on the market price of Old Second’s common stock at the time Bancorp Financial stockholders receive shares of Old Second common stock in the merger. Old Second’s common stock is listed on NASDAQ under the symbol “OSBC.” The following table shows the closing sale prices of Old Second common stock as reported on NASDAQ, on February 24, 2025, the last trading day before the public announcement of the merger agreement, and on [•], 2025, the latest practicable trading day before the date of this proxy statement/prospectus. The table also shows