Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 72

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 72
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 the number of shares of HomeStreet common stock expected to be issued in the merger, Mechanics shareholders as of immediately prior to the merger, as a group, are estimated to own approximately 91.7% of the outstanding shares of the combined company on an economic basis and 91.3% of the voting power in the combined company immediately after the merger, and HomeStreet shareholders as of immediately prior to the merger, as a group, are estimated to own approximately 8.3% of the outstanding shares of the combined company on an economic basis and 8.7% of the voting power in the combined company immediately after the merger. Following the consummation of the merger, the Ford Entities and their controlled affiliates will control approximately 77.7% of the voting power of the combined company. Accordingly, HomeStreet shareholders are expected to have less influence over the management and policies of the combined company after the closing of the merger than they now have on the management and policies of HomeStreet.

**Following the consummation of the merger, the Ford Entities and their controlled affiliates will control approximately 77.7% of the voting power of the combined company, and the Ford Entities and such affiliates will have the ability to elect the combined company’s directors and have control over most other matters submitted to shareholders for approval.**

Immediately following the merger, approximately 91.3% of the voting power of outstanding shares of the common stock of the combined company will be held by existing holders of the equity interests of Mechanics, and approximately 8.7% will be held by the existing holders of the common stock of HomeStreet. Following the consummation of the merger, the Ford Entities and their controlled affiliates will control approximately 77.7% of the voting power of the combined company. Consequently, existing HomeStreet shareholders, as a group, will exercise significantly less influence over the management and policies of the combined company than they currently may have over HomeStreet’s management team and policies.

Through their indirect ownership of a majority of the combined company’s voting power and the provisions set forth in the amended and restated articles and the amended and restated bylaws, the Ford Entities and their affiliates will have the ability to elect the combined company’s directors. Further, the Ford Entities and their affiliates will also have control over most other matters submitted to shareholders for approval, including changes in capital structure, transactions requiring stockholder approval under Washington law and corporate governance. The Ford Entities and their affiliates may have different interests than other holders of HomeStreet common stock and