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Tuesday, September 29, 2026

Equity Corporate Actions Alert #2026 - 693
Information Regarding the exchange offer for MiniMed Group, Inc. (MMED)

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  • Industry Announcement

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On September 14, 2026, Medtronic plc (NYSE: MDT) commenced a voluntary exchange offer to complete the separation of MiniMed Group, Inc. (Nasdaq: MMED). Through the exchange offer, holders of MDT shares may elect to exchange all or a portion of their MDT shares for MMED common stock. The offer is currently scheduled to expire on October 9, 2026, unless extended or terminated.

Pursuant to the exchange offer, for each $100 of MDT shares accepted in the offer, participating shareholders are expected to receive approximately $107.53 of MMED common stock, subject to a maximum exchange ratio of 4.5939 shares of MMED common stock for each MDT share tendered and accepted.

The final exchange ratio, representing the number of MMED shares that tendering shareholders will receive for each MDT share accepted in the exchange offer, will be determined based on the arithmetic average of the daily volume-weighted average prices (VWAPs) of MDT and MMED during the three-day pricing period currently expected to occur October 5, 6, and 7, 2026.

Medtronic plc expects to announce the final exchange ratio no later than 9:00 a.m. ET on the trading day immediately preceding the expiration date of the offer.

Information regarding the exchange offer, including the final exchange ratio when available, may be obtained at http://www.dfking.com/MDTSeparation

See the company's Form S-4, and press release dated September 14, 2026, for additional information regarding the terms and conditions of the exchange offer.

A When Issued market will be will be established for MiniMed Group, Inc. to accommodate this offering. The details are as follows:

Company name: MiniMed Group, Inc. Common Stock
CUSIP: 60365F109
Symbol: MMEDV
Anticipated First Trade Date: October 1, 2026
Anticipated Suspension Date: TBA
Settlement Date: TBA

If you would like to register as a market maker in MMEDV, contact Nasdaq Trading Services at +1 212 231 5100.

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