Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 49

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 49
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 allocated to goodwill. In connection with the mergers, which are currently expected to be completed in the middle of 2025 subject to the satisfaction of customary closing conditions, each share of Bremer common stock issued and outstanding immediately prior to the effective time (except for dissenting shares, shares of treasury stock or shares owned by Bremer, Old National or ONB Merger Sub, in each case other than shares held in trust accounts, managed accounts, mutual funds and the like, or otherwise held in a fiduciary or agency capacity that are beneficially owned by third parties, or held, directly or indirectly as a result of debts previously contracted) will be converted into the right to receive (i) $26.22 in cash without interest, and (ii) 4.182 shares Old National common stock, valuing merger consideration payable to holders of Bremer common stock at approximately $1.4 billion based on the closing stock price of Old National common stock of $20.63 as of January 10, 2025, as reported on the NASDAQ Stock Exchange. The pro forma allocation of the purchase price reflected in the unaudited pro forma condensed combined financial information is subject to adjustment and may vary from the actual purchase price allocation that will be recorded at the effective time of the mergers. Adjustments may include, but not be limited to, changes in (i) Bremer’s balance sheet through the effective time; (ii) the aggregate value of merger consideration paid if the price of shares of Old National common stock varies from the assumed $20.63 per share; and (iii) the underlying values of assets and liabilities if market and credit conditions differ from current assumptions. Note 2 — Preliminary Purchase Price Allocation The following table summarizes the estimated total purchase price with a sensitivity analysis assuming a 10% increase and 10% decrease in the price per share of Old National common stock from the baseline price, which is the closing price of Old National common stock reported on the NASDAQ Stock Exchange as of January 10, 2025, with its impact on the preliminary goodwill.

| (dollars in thousands, except per share data)            | ​ | ​ | January 10,2025 |   |            |   | ​ | ​ | 10% Increase |   |            |   | ​ | ​ | 10% Decrease |   |            |   | ​ |
| Common shares of Bremer                                  | ​ | ​ | ​               | ​ | 12,000,