Sandisk warns shareholders against Tutanota mini-tender offer at $1,150/share

Sandisk Corp

Tutanota LLC offered to buy up to 100,000 Sandisk shares (<0.07% of outstanding) at $1,150/share.
Offer price is conditioned on SNDK closing above $1,150 on the last trading day before expiration; otherwise price is below market.
Expiration set for 5:00 p.m. ET on May 20, 2026, with possible extensions of 45–180 days.
Sandisk does not endorse the offer and recommends stockholders take no action; SEC has flagged similar mini-tender risks.

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