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8-K: Bank of America Recommends Shareholders Reject “Mini-Tender” Offer by Tutanota LLC

8-K: Bank of America Recommends Shareholders Reject “Mini-Tender” Offer by Tutanota LLC

8-K:美國銀行建議股東拒絕Tutanota LLC的小型招標要約
美股sec公告 ·  05/10 16:45
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On May 10, 2024, Bank of America Corporation issued a press release advising shareholders to reject an unsolicited mini-tender offer from Tutanota LLC. Tutanota proposed to acquire up to 1,000,000 shares of Bank of America's common stock at $40.00 per share, contingent on the stock's closing price being above $40.00 on the last trading day before the offer's expiration. The offer, representing a mere 0.01% of the outstanding common stock, is set to expire on May 31, 2024, at 5:00 p.m. NYC time, unless extended. Bank of America has clarified that it is not associated with Tutanota or its offer and has recommended that shareholders do not tender their shares, citing the offer's below-market price and numerous conditions, including Tutanota's need...Show More
On May 10, 2024, Bank of America Corporation issued a press release advising shareholders to reject an unsolicited mini-tender offer from Tutanota LLC. Tutanota proposed to acquire up to 1,000,000 shares of Bank of America's common stock at $40.00 per share, contingent on the stock's closing price being above $40.00 on the last trading day before the offer's expiration. The offer, representing a mere 0.01% of the outstanding common stock, is set to expire on May 31, 2024, at 5:00 p.m. NYC time, unless extended. Bank of America has clarified that it is not associated with Tutanota or its offer and has recommended that shareholders do not tender their shares, citing the offer's below-market price and numerous conditions, including Tutanota's need to secure financing. Shareholders who have already tendered shares have the option to withdraw them at any time before the offer expires. The SEC has previously issued warnings about the potential risks associated with mini-tender offers, which are not subject to the same regulations as larger bids due to their smaller size.
2024年5月10日,美國銀行發佈了一份新聞稿,建議股東拒絕Tutanota LLC主動提出的小型招標要約。Tutanota提議以每股40.00美元的價格收購多達100萬股美國銀行普通股,前提是該股在要約到期前的最後一個交易日的收盤價超過40.00美元。該要約僅佔已發行普通股的0.01%,除非延期,否則將於紐約時間2024年5月31日下午5點到期。美國銀行澄清說,它與Tutanota或其要約無關,並建議股東不要投標股票,理由是該要約的價格低於市場,還有許多條件,包括Tutanota需要獲得融資。已經投標股票的股東可以選擇在要約到期前隨時撤回股票。美國證券交易委員會此前曾就與小型招標報價相關的潛在風險發出警告,由於規模較小,小額投標與較大投標不受相同的法規約束。
2024年5月10日,美國銀行發佈了一份新聞稿,建議股東拒絕Tutanota LLC主動提出的小型招標要約。Tutanota提議以每股40.00美元的價格收購多達100萬股美國銀行普通股,前提是該股在要約到期前的最後一個交易日的收盤價超過40.00美元。該要約僅佔已發行普通股的0.01%,除非延期,否則將於紐約時間2024年5月31日下午5點到期。美國銀行澄清說,它與Tutanota或其要約無關,並建議股東不要投標股票,理由是該要約的價格低於市場,還有許多條件,包括Tutanota需要獲得融資。已經投標股票的股東可以選擇在要約到期前隨時撤回股票。美國證券交易委員會此前曾就與小型招標報價相關的潛在風險發出警告,由於規模較小,小額投標與較大投標不受相同的法規約束。
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