Company: ONBPP
Filing Date: 2025-02-03
Form Type: 424B3
Source: 0001104659-25-008430
Chunk: 133

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-03
Form: 424B3
Chunk 133
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 the exchange of Bremer common stock for Old National common stock and cash in the mergers (other than with respect to any cash received in lieu of a fractional share of Old National common stock);

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a U.S. holder’s aggregate tax basis in the Old National common stock received in the mergers (including fractional shares deemed received and deemed redeemed as described below) will equal the holder’s tax basis in the Bremer common stock surrendered therefor in the mergers, reduced by any cash received (other than any cash paid in lieu of a fractional share of Old National common stock), and increased by the amount of gain the holder recognizes on the exchange (regardless of whether such gain is classified as capital gain or dividend income, as discussed below, but excluding any gain recognized with respect to cash paid in lieu of a fractional share of Old National common stock);

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a U.S. holder’s holding period in the Old National common stock received by such holder in the mergers will include the holder’s holding period in the Bremer common stock surrendered in exchange therefor; and

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a U.S. holder who receives cash in lieu of a fractional share of Old National common stock will be treated as having received the fractional share pursuant to the mergers and then as having exchanged that fractional share with Old National for cash in a redemption transaction. Such holder will generally recognize gain or loss equal to the difference between the amount of cash received and such holder’s tax basis allocated to such fractional share.

If a U.S. holder acquired different blocks of shares of Bremer common stock (a block of stock is stock of the same class acquired on the same day at the same price per share) at different times or different prices, any gain or loss may be determined separately for each block of shares and such U.S. holder’s basis and holding period in its shares of Old National common stock may be determined with reference to each block of shares of Bremer common stock. Each holder should consult his, her or its tax advisor regarding the manner in which the cash consideration and stock consideration should be allocated among different blocks

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of shares of Bremer common stock surrendered and the determination of the tax bases and holding periods of the Old National common stock received.

Any gain recognized in the mergers generally will be long-term capital gain if the U.S. holder held the Bremer common stock surrendered in the mergers for more than one year at the effective time of the first step merger, and otherwise generally will be