Sandisk urges shareholders to reject Tutanota's below-market $1,150 mini-tender offer

On May 14, 2026 Sandisk publicly recommended that stockholders reject an unsolicited mini-tender offer from Tutanota LLC for up to 100,000 shares at $1,150 each. The offer price applies only if the stock closes above $1,150 on the last trading day before expiry, so tendering holders could receive less than the market price. Sandisk said it had no affiliation with the offer and advised holders who had not responded to take no action.

• Offer: up to 100,000 shares at $1,150 each, from Tutanota LLC
• Stated expiry 5:00 p.m. ET on May 20, 2026, unless extended
• Price is conditional, so the offer can be below the market price
• Sandisk recommended holders reject the offer and take no action