Old National Bancorp Enters Additional Forward Sale Agreement with Forward Purchaser

Evansville, Indiana – Old National Bancorp (NASDAQ: ONB) has recently disclosed that on November 25, 2024, it entered into an additional forward sale agreement with the Forward Purchaser. This agreement relates to 2,857,143 shares of common stock, following the exercise of an option by Underwriters to purchase additional shares.

The initial agreement involved an underwriting agreement with Citigroup Global Markets Inc. and a forward sale agreement with the Forward Purchaser, both executed on November 25, 2024, for the sale of 19,047,619 shares of common stock. This recent development signifies the Underwriters exercising their option in full to procure the additional shares.

In light of these agreements, the disclosure outlines the terms and conditions granted to the Underwriters, including a 30-day option to purchase extra shares of common stock. The descriptions of the various agreements indicate that they are precise and are referenced back to the original filings for complete details.

Old National Bancorp’s move to enter into this Additional Forward Sale Agreement appears to be a strategic step in the company’s financial plan, possibly aiming at capital optimization and enhancing its market position further. The financial implications and impact of these agreements on Old National Bancorp’s operations and market standing remain to be seen.

Investors and stakeholders interested in further details are encouraged to review the official filings and statements provided by Old National Bancorp regarding this development.

The filing with the Securities and Exchange Commission indicates a deliberate effort to keep shareholders and concerned parties fully informed about the company’s financial dealings and strategic moves. Such transparency is crucial in maintaining trust and confidence in the financial markets.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Old National Bancorp’s 8K filing here.

About Old National Bancorp

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.