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Thursday, October 23, 2025

Equity Corporate Actions Alert #2025 - 584
(UPDATED: Merger closed) Information Regarding the Tender Offer of Tourmaline Bio, Inc. (TRML)

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  • Industry Announcement

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The tender offer by Torino Merger Sub Inc. an indirect wholly owned subsidiary of Novartis AG (NYSE: NVS) to acquire all of the outstanding common stock of Tourmaline Bio, Inc. (TRML) is scheduled to expired one minute after 11:59 p.m. ET, on October 27, 2025. The subsequent merger closed prior to the market open on October 28, 2025. In anticipation of the closing, the stock was halted immediately following the after-hours session at or around 7:50 p.m. on October 27, 2025. The stock will remain halted on the day of closing (October 28th) and will be suspended effective October 29, 2025. The details are as follows:

Company/Issue: Tourmaline Bio, Inc. Common Stock
CUSIP#: 89157D105
Symbol: TRML
Last Trading Date: October 27, 2025
Marketplace Effective Date for Suspension: October 29, 2025
Merger Consideration: $48.00 for each share held.

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