Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 16

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 16
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 of Bancorp Financial common stock instead of the merger consideration. If the stockholder and the surviving corporation do not agree on the fair value, it will be determined by the Delaware Court of Chancery. This “fair value” could be equal to, greater than, or less than the merger consideration. See “Bancorp Financial Stockholders’ Appraisal Rights” on page 88. A copy of Section 262 of the DGCL is attached as Annex C to this proxy statement/prospectus.

**Q: Are Old Second stockholders entitled to appraisal rights?**

A:

No, under the DGCL, which is the law under which Old Second is incorporated, the holders of Old Second common stock will not be entitled to any appraisal rights in connection with the merger.

Q:

What are the material U.S. federal income tax consequences of the merger to U.S. holders of Bancorp Financial common stock?

A:

The merger will qualify for U.S. federal income tax purposes as a “reorganization” within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended, which we refer to as the “Code,” and it is a condition to the respective obligations of Old Second and Bancorp Financial to complete the merger that each receives an opinion from its tax advisor or counsel to that effect. Therefore, “U.S. holders” (as defined in the section of this proxy statement/prospectus titled “Material U.S. Federal Income Tax Consequences of the Merger”) of Bancorp Financial common stock will recognize gain, but not loss, for U.S. federal income tax purposes in an amount equal to the lesser of (a) the amount of cash received (other than cash received in lieu of a fractional share of Old Second common stock)

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and (b) the excess, if any, of (i) the sum of the amount of such cash and the fair market value of the Old Second common stock received in the merger, over (ii) the U.S. holder’s adjusted tax basis in the shares of Bancorp Financial common stock surrendered in the merger. With respect to any cash received in lieu of a fractional share of Old Second common stock, a U.S. holder will 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 Bancorp Financial common stock allocable to that fractional share.

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