Sandisk Corporation warns shareholders against an unsolicited mini-tender offer by Tutanota LLC to buy up to 100,000 shares at $1,150 per share, which is below market if conditions are met.
Key takeaways
Tutanota LLC made unsolicited mini-tender offer for up to 100,000 shares (less than 0.07% of common stock) at $1,150 per share.
Offer price conditioned on Sandisk's closing price exceeding $1,150 on last trading day before expiration, potentially resulting in below-market payment.
Sandisk does not endorse the offer and recommends stockholders not tender shares.
Stockholders who tendered may withdraw prior to expiration at 5:00 p.m. ET on May 20, 2026.
Sandisk is not affiliated with Tutanota, which has made similar offers to other public companies.
Mini-tender exempt from many SEC disclosure rules, prompting SEC caution on below-market risks.