ST. PAUL, Minn., June 7, 2024 /PRNewswire/ -- Solventum (NYSE:
SOLV) has been notified that TRC Capital Investment Corporation
("TRC") made an unsolicited "mini-tender offer" to purchase up to
2,000,000 shares of the company's common stock at $59.15 per share and decreased the offer price on
June 6, 2024, to $55.00 per share. The closing stock price of
Solventum's common stock on June 6,
2024 was $55.05.
As of the date of this press release, Solventum expresses no
opinion and is neutral toward TRC's tender offer but cautions
stockholders to monitor the trading price of the Solventum stock
and any amendment to the offer price and to review the terms and
conditions to the tender offer carefully. There is no guarantee the
conditions of the offer will be satisfied.
Solventum stockholders who have already tendered their shares
may withdraw them at any time by providing notice in the manner
described in the TRC offering documents prior to the expiration of
the offer, which is currently scheduled for 11:59 p.m., New York
City time, on June 20, 2024,
unless extended.
Solventum does not endorse TRC's unsolicited mini-tender offer.
Solventum is not affiliated or associated in any way with TRC, its
mini-tender offer, or its mini-tender offer documents.
TRC's mini-tender offer is not subject to many of the disclosure
and procedural requirements of Securities and Exchange Commission
(SEC) rules that are designed to protect investors. TRC has made
similar unsolicited mini-tender offers for stock of other public
companies. The SEC has cautioned investors about mini-tender
offers, providing guidance to investors at
http://www.sec.gov/investor/pubs/minitend.htm. Mini-tender offers
seek to acquire not more than 5 percent of a company's outstanding
shares, thereby avoiding many disclosure and procedural
requirements of the SEC that are designed to protect investors.
Solventum urges stockholders to obtain current market quotations
for their shares of stock, to consult their broker or financial
advisor, and to exercise caution with respect to TRC's offer.
Solventum requests that a copy of this news release be included
with all distributions of materials relating to TRC's mini-tender
offer related to Solventum's stock.
About Solventum
At Solventum, we enable better,
smarter, safer healthcare to improve lives. As a new company with a
long legacy of creating breakthrough solutions for our customers'
toughest challenges, we pioneer game-changing innovations at the
intersection of health, material and data science that change
patients' lives for the better — while empowering healthcare
professionals to perform at their best. See how at
Solventum.com.
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SOURCE Solventum