Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 13

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 13
---
 mergers, taken together, to qualify as a “reorganization” within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended (the “Code”). Therefore, U.S. holders of shares of Bremer common stock will recognize gain, but not loss, for U.S. federal income tax purposes in an amount equal to the lesser of (i) the amount of cash received for the cash portion of the merger consideration (other than cash received in lieu of a fractional share of Old National common stock) and (ii) the excess, if any, of (a) the sum of the amount of such cash and the fair value of the Old National common stock received in the mergers, over (b) the U.S. holder’s adjusted tax basis in the shares of Bremer common stock surrendered in the mergers. With respect to any cash received in lieu of a fractional share of Old National common stock, a U.S. holder will generally recognize gain or loss measured by the difference between the amount of cash received for such fractional share and the U.S. holder’s adjusted tax basis in its shares of Bremer common stock allocable to that fractional share.

The obligations of Old National and Bremer to complete the mergers are subject to the requirement that each of Old National and Bremer receive opinions from their respective tax counsel that the mergers, taken together, will qualify as a “reorganization” under Section 368(a) of the Code. You should be aware that the tax consequences of the mergers to you may depend upon your own situation. In addition, you may be subject to state, local, or foreign tax laws that are not discussed in this proxy statement/ prospectus. You should therefore consult with your own tax advisor for a full understanding of the tax consequences to you of the mergers. For further information, see “Material U.S. Federal Income Tax Consequences of the Mergers.”

Q:

Are there any risks that I should consider in deciding whether to vote for the approval of the merger proposal?

A:

Yes. You should read and carefully consider the risk factors set forth in the section of this proxy statement/ prospectus entitled “Risk Factors.” You also should read and carefully consider the risk factors of Old National contained in the documents that are incorporated by reference into this proxy statement/ prospectus.

Q:

If I am a Bremer shareholder, should I send in my Bremer stock certificate(s) now?

A:

No. Please do not send in your