onsemi warns shareholders to reject TRC Capital's below-market mini-tender offer at $70.75/share

ON SEMICONDUCTOR CORP

TRC Capital offered to buy up to 1.5M shares at $70.75, a 4.4% discount to $74.04 close on Mar 19, 2024.
Offer covers ~0.35% of outstanding shares; company recommends stockholders take no action.
Stockholders who tendered may withdraw shares before offer expires at 12:01 a.m. EDT on Apr 19, 2024.
Mini-tender offers avoid SEC protections; onsemi urges investors to consult financial advisors.

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