Old National Bancorp (ONB) Monday said it priced its public offering of 19.05 million shares at $21 per share.
The underwriters have been granted the option to purchase up to an additional 2.86 million shares.
Citigroup Global Markets Inc. is acting as lead joint book-running manager and stabilization agent for the offering.
In connection with the offering, Old National has entered into a forward sale agreement with an affiliate of Citi (the forward purchaser), pursuant to which Old National has agreed to sell its shares to the forward purchaser at a price equal to the public offering price.
The forward purchaser or its affiliate is borrowing from third parties an aggregate of 19.05 million shares and will be delivered for sale to the underwriters in the offering.
Old National expects to physically settle the forward sale agreement by delivery of shares and receive proceeds of about $384 million within approximately 12 months from the date of agreement.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.