DALLAS, May 19, 2025 /CNW/ -- AT&T Inc. ("AT&T") has learned that TRC Capital Investment Corporation ("TRC") has made an unsolicited "mini-tender" offer, dated May 5, 2025. TRC has offered to purchase up to 4 million shares of AT&T common stock at $26.38 per share. The offer expires on June 3, 2025, unless extended by TRC.

AT&T is in no way associated with TRC and recommends that shareholders reject this unsolicited offer.

AT&T cautions shareholders that the offer is being made at a price below the current trading price of AT&T common stock. AT&T also cautions shareholders that TRC can extend the offer and delay payment beyond the scheduled expiration date of June 3, 2025.

Mini-tender offers seek less than 5 percent of a company's outstanding shares. This lets the offering company avoid many disclosure and procedural requirements the U.S. Securities and Exchange Commission ("SEC") requires for tender offers.

The SEC has issued an alert on its website regarding mini-tender offers. This alert advises that mini-tender offers "have been increasingly used to catch investors off guard" and that investors "may end up selling their securities at below-market prices."

AT&T urges investors to obtain current market quotes for their shares of common stock, consult with their financial advisors and exercise caution with TRC's offer. Shareholders who already tendered their shares may withdraw them by providing the written notice described in the TRC offering documents before the expiration of the offer and at other times described in the offering.

AT&T requests that a copy of this news release be included with all distributions of materials related to TRC's offer for shares of AT&T common stock.

About AT&T

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For more information, contact: Brittany Siwald, AT&T Corporate Communications, Phone: (214) 202-6630, Email: brittany.a.siwald@att.com

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May 19, 2025 16:30 ET (20:30 GMT)