Vertiv Holdings Co (NYSE: VRT) announced it received notice of an unsolicited mini-tender offer from Tutanota LLC to purchase up to 500,000 shares of Vertiv common stock at $410.00 per share in cash.

The offer price is conditioned on the closing price per share of Vertiv common stock exceeding $410.00 per share on the last trading day before the offer expires. Unless this condition is waived by Tutanota, shareholders who tender their shares would receive a below-market price, according to the company's statement.

Tutanota indicated in its offering documents that it expects to extend the offer for successive periods of 45 to 180 days until the market price exceeds the offer price. The offer represents approximately 0.13 percent of Vertiv's outstanding common stock shares as of the offer date.

Vertiv stated it is not associated with Tutanota LLC and recommends shareholders not tender their shares because the offer requires the closing stock price to exceed the offer price and is subject to additional conditions, including Tutanota obtaining financing.

Mini-tender offers seek to acquire less than 5 percent of a company's shares outstanding, thereby avoiding many disclosure and procedural requirements of the Securities and Exchange Commission that would otherwise apply to larger tender offers.

The offer is scheduled to expire at 5:00 p.m. New York City time on June 8, 2026, unless extended or earlier terminated. Shareholders who have already tendered their shares may withdraw them at any time before the offer expires by providing notice as described in the Tutanota offering documents.

Vertiv operates as a global provider of critical digital infrastructure and continuity solutions, serving customers in over 130 countries including data centers, communication networks, and industrial facilities.