AMD recommends shareholders reject mini tender offer from Tutanota

AMD was notified of an unsolicited “mini-tender” offer by Tutanota. Pursuant to the offer, which is dated March 18, Tutanota is offering to purchase up to 150,000 shares of AMD common stock at $200.00 per share, which represents approximately 0.009283% of AMD’s outstanding shares. The offer price of $200.00 per share is conditioned on, among other things, the closing price per share of AMD common stock exceeding $200.00 per share on the last trading day before the offer expires. This means that unless this condition is waived by Tutanota, AMD stockholders who tender shares in the offer will receive a below-market price. Tutanota can extend the offer for successive periods of 45 to 180 days until the market price of AMD common stock exceeds the offer price, in which case payment would be delayed beyond the scheduled expiration date of Friday, April 19. AMD does not in any way recommend or endorse the Tutanota offer because the offer requires that the closing price for AMD common stock exceed the offer price, and the offer price is subject to numerous additional conditions, including Tutanota obtaining financing for the offer. There is no guarantee the conditions of the offer will be satisfied. AMD is in no way associated with Tutanota, the “mini-tender” offer or the offer documentation.