Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 101

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 101
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 and potential appreciation in the value of Huntington common stock; |

| • | its expectation that, upon consummation of the merger, Cadence shareholders would own approximately 23% of the combined company on a fully diluted basis; |

| • | the fact that Cadence’s shareholders will have an opportunity to vote on the approval of the merger agreement and the merger (and that approval would require a majority of all the outstanding shares of common stock); |

| • | the impact of the merger on Cadence’s employees, including the benefits agreed to be provided by Huntington pursuant to the merger agreement; |

| • | Huntington’s record of support for its customers and communities; |

| • | the terms of the merger agreement, which Cadence reviewed with its legal advisor, including the representations, covenants, deal protection and termination provisions. |

The Cadence board of directors also considered the potential risks related to the transaction but concluded that the anticipated benefits of combining with Huntington were likely to outweigh these risks. These potential risks include:

| • | the possible diversion of management attention and resources from other strategic opportunities and operational matters while working to implement the transaction and integrate the two companies; |

| • | the risk of losing key Cadence employees during the pendency of the merger and thereafter; |

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| • | the restrictions on the conduct of Cadence’s business during the period between execution of the merger agreement and the consummation of the merger, which could potentially delay or prevent Cadence from undertaking business opportunities that might arise or certain other actions it might otherwise take with respect to its operations absent the pendency of the merger; |

| • | the potential effect of the merger on Cadence’s overall business, including its relationships with customers, employees, suppliers and regulators; |

| • | the fact that Cadence’s shareholders would not be entitled to appraisal or dissenters’ rights in connection with the merger; |

| • | the possibility of encountering difficulties in achieving cost savings and synergies in the amounts currently estimated or within the time frame currently contemplated; |

| • | certain anticipated merger-related costs that Cadence expects to incur, including a number of non-recurring costs in connection with the merger even if the merger is not ultimately consummated, including a potential $296 million termination fee if the merger agreement is terminated by Huntington under certain circumstances; |

| • | the regulatory and other approvals required in connection with the merger and the risk that such regulatory approvals will not be received or will not be received in