Company: ONBPP
Filing Date: 2025-02-03
Form Type: 424B3
Source: 0001104659-25-008430
Chunk: 75

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-03
Form: 424B3
Chunk 75
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 discussed more fully under the section entitled “— Certain Unaudited Prospective Financial Information.” Bremer does not publicly disclose internal management projections of the type provided to J.P. Morgan in connection with J.P. Morgan’s analysis of the mergers, and such projections were not prepared with a view toward public disclosure. The Bremer management projections were based on numerous variables and assumptions that are inherently uncertain and may be beyond the control of the management of Bremer, including, without limitation, factors related to general economic and competitive conditions and prevailing interest rates. Accordingly, actual results could vary significantly from those set forth in such projections. For more information regarding the use of projections and other forward-looking statements, please refer to the section entitled “— Certain Unaudited Prospective Financial Information.”

J.P. Morgan’s opinion was necessarily based on economic, market and other conditions as in effect on, and the information made available to J.P. Morgan as of, the date of such opinion. J.P. Morgan’s opinion noted that subsequent developments may affect J.P. Morgan’s opinion, and that J.P. Morgan does not have any obligation to update, revise, or reaffirm such opinion. J.P. Morgan’s opinion is limited to the fairness, from a financial point of view, of the merger consideration to be paid to Bremer shareholders in the first step merger and J.P. Morgan expressed no opinion as to (i) the fairness of any consideration to be paid in connection with the first step merger to the holders of any other class of securities, creditors or other constituencies of Bremer, (ii) the allocation of the aggregate consideration to be paid to all Bremer shareholders between the holders of Bremer Class A common stock and Bremer Class B common stock, or the relative fairness of the consideration to the holders of any shares of Bremer common stock, or (iii) as to the underlying decision by Bremer to engage in the mergers. J.P. Morgan also did not express any opinion as to the trustee voting agreement or the director voting agreements or any voting, governance or other rights of the Otto Bremer Trust, whether pursuant thereto or otherwise (and did not take any such rights into account in its analysis). Furthermore, J.P. Morgan expressed no opinion with respect to the amount or nature of any compensation to any officers, directors, or employees of any party to the mergers, or any class of such persons relative to the merger consideration to be paid to Bremer shareholders in the first step merger or with respect to the fairness