Sandisk issued an investor alert advising stockholders to reject an unsolicited “mini-tender” offer by Tutanota LLC to purchase up to 100,000 shares at $1,150.00 per share, and highlighted that the offer represents under 0.07% of shares outstanding as of April 24, 2026.

Mini-tender offers can create confusion and short-term volatility because they are made at a fixed price that can be at a steep discount to the prevailing market price, and they are structured to avoid certain SEC disclosure and procedural requirements that apply to tender offers for more than 5% of a class of stock.

The offer’s scheduled expiration is 5:00 p.m. ET on Wednesday, May 20, 2026 (unless extended), and Sandisk noted that stockholders who already tendered can withdraw before expiration by following the offer documents’ procedures. Traders will also watch for any follow-on company communications or filings clarifying terms and risks.