[6-K] Novo-Nordisk A/S Current Report (Foreign Issuer)
Event: On 4 Aug 2025 Novo Nordisk A/S (NYSE: NVO) filed a Form 6-K after receiving an unsolicited “mini-tender” from TRC Capital Investment Corp. to buy up to 2 million American Depositary Shares (ADSs), representing less than 0.045 % of the company’s total share capital. The offer applies only to ADSs, not ordinary shares.
Company stance: Novo Nordisk remains neutral, does not endorse the bid and advises holders to obtain current quotes, consult advisers, scrutinise the offer terms (including any price revisions) and act with caution. Management emphasises that mini-tenders target under 5 % of shares and therefore bypass full U.S. SEC tender-offer disclosure and procedural safeguards. Links to relevant SEC investor alerts and broker-dealer guidance are provided.
Investor impact: Because the offer covers an immaterial stake, no change in control, capital structure or operating fundamentals is expected. The filing’s primary purpose is to protect shareholders by flagging potential risks associated with mini-tender mechanics; it contains no financial results, guidance or strategic updates.
Evento: Il 4 agosto 2025 Novo Nordisk A/S (NYSE: NVO) ha presentato un modulo 6-K dopo aver ricevuto un "mini-tender" non richiesto da TRC Capital Investment Corp., che propone l'acquisto fino a 2 milioni di American Depositary Shares (ADS), rappresentanti meno dello 0,045% del capitale sociale totale della società. L'offerta riguarda esclusivamente gli ADS, non le azioni ordinarie.
Posizione della società: Novo Nordisk mantiene una posizione neutrale, non sostiene l'offerta e consiglia ai detentori di ottenere quotazioni aggiornate, consultare consulenti, analizzare attentamente i termini dell'offerta (incluse eventuali revisioni del prezzo) e agire con cautela. La direzione sottolinea che i mini-tender interessano meno del 5% delle azioni e quindi evitano la piena divulgazione e le garanzie procedurali previste dalla SEC statunitense per le offerte pubbliche. Sono forniti link agli avvisi per investitori della SEC e alle linee guida per broker-dealer.
Impatto per gli investitori: Poiché l'offerta riguarda una quota irrilevante, non si prevedono cambiamenti nel controllo, nella struttura del capitale o nei fondamentali operativi. Lo scopo principale della comunicazione è proteggere gli azionisti segnalando i potenziali rischi legati ai meccanismi dei mini-tender; non contiene risultati finanziari, previsioni o aggiornamenti strategici.
Evento: El 4 de agosto de 2025, Novo Nordisk A/S (NYSE: NVO) presentó un Formulario 6-K tras recibir una "mini-oferta" no solicitada de TRC Capital Investment Corp. para comprar hasta 2 millones de American Depositary Shares (ADS), que representan menos del 0,045 % del capital social total de la compañía. La oferta aplica únicamente a los ADS, no a las acciones ordinarias.
Posición de la empresa: Novo Nordisk mantiene una postura neutral, no respalda la oferta y aconseja a los titulares obtener cotizaciones actuales, consultar asesores, examinar cuidadosamente los términos de la oferta (incluidas posibles revisiones de precio) y actuar con cautela. La dirección enfatiza que las mini-ofertas apuntan a menos del 5 % de las acciones y por ello evitan la divulgación completa y las salvaguardas procesales de la SEC estadounidense. Se proporcionan enlaces a alertas relevantes de la SEC para inversores y guías para corredores.
Impacto para los inversores: Dado que la oferta cubre una participación insignificante, no se esperan cambios en el control, la estructura de capital ni los fundamentos operativos. El propósito principal de la presentación es proteger a los accionistas señalando riesgos potenciales asociados con los mecanismos de mini-ofertas; no contiene resultados financieros, pronósticos ni actualizaciones estratégicas.
사건: 2025년 8월 4일, Novo Nordisk A/S (NYSE: NVO)는 TRC Capital Investment Corp.로부터 비공개 '미니 테이더' 제안을 받고 Form 6-K를 제출했습니다. 이 제안은 회사 전체 주식 자본의 0.045% 미만에 해당하는 최대 200만 주의 미국예탁증서(ADS) 매수를 목표로 하며, 일반 주식에는 적용되지 않습니다.
회사 입장: Novo Nordisk는 중립적인 입장을 유지하며 입찰을 지지하지 않고, 보유자들에게 현재 시세를 확인하고, 자문을 구하며, 제안 조건(가격 변경 포함)을 꼼꼼히 검토하고 신중히 행동할 것을 권고합니다. 경영진은 미니 테이더가 전체 주식의 5% 미만을 대상으로 하여 미국 증권거래위원회(SEC)의 전면 공시 및 절차적 보호 장치를 우회한다고 강조합니다. 관련 SEC 투자자 경고 및 중개업자 안내 링크가 제공됩니다.
투자자 영향: 제안이 미미한 지분에 한정되므로 지배권, 자본 구조 또는 운영 기본 사항에 변화가 없을 것으로 예상됩니다. 제출의 주요 목적은 미니 테이더 메커니즘과 관련된 잠재적 위험을 주주들에게 알리는 것이며, 재무 결과, 가이드라인 또는 전략적 업데이트는 포함하지 않습니다.
Événement : Le 4 août 2025, Novo Nordisk A/S (NYSE : NVO) a déposé un formulaire 6-K après avoir reçu une « mini-offre » non sollicitée de TRC Capital Investment Corp. visant à acheter jusqu'à 2 millions d'American Depositary Shares (ADS), représentant moins de 0,045 % du capital social total de la société. L'offre concerne uniquement les ADS, pas les actions ordinaires.
Position de l'entreprise : Novo Nordisk reste neutre, ne soutient pas l'offre et conseille aux détenteurs d'obtenir des cotations actuelles, de consulter des conseillers, d'examiner attentivement les termes de l'offre (y compris toute révision de prix) et d'agir avec prudence. La direction souligne que les mini-offres ciblent moins de 5 % des actions et contournent ainsi les exigences complètes de divulgation et les garanties procédurales de la SEC américaine. Des liens vers des alertes aux investisseurs de la SEC et des guides pour courtiers sont fournis.
Impact pour les investisseurs : Comme l'offre concerne une participation négligeable, aucun changement de contrôle, de structure du capital ou de fondamentaux opérationnels n'est attendu. Le principal objectif du dépôt est de protéger les actionnaires en signalant les risques potentiels liés aux mécanismes des mini-offres ; il ne contient aucun résultat financier, prévision ou mise à jour stratégique.
Ereignis: Am 4. August 2025 reichte Novo Nordisk A/S (NYSE: NVO) ein Formular 6-K ein, nachdem es ein unverlangtes "Mini-Tender"-Angebot von TRC Capital Investment Corp. erhalten hatte, das den Kauf von bis zu 2 Millionen American Depositary Shares (ADS) vorsieht, was weniger als 0,045 % des gesamten Aktienkapitals des Unternehmens entspricht. Das Angebot gilt nur für ADS, nicht für Stammaktien.
Unternehmensposition: Novo Nordisk bleibt neutral, unterstützt das Angebot nicht und rät den Inhabern, aktuelle Kurse einzuholen, Berater zu konsultieren, die Angebotsbedingungen (einschließlich etwaiger Preisänderungen) genau zu prüfen und vorsichtig zu handeln. Das Management betont, dass Mini-Tender weniger als 5 % der Aktien betreffen und daher die vollständigen Offenlegungs- und Verfahrensschutzvorschriften der US-SEC umgehen. Links zu relevanten SEC-Investorenwarnungen und Broker-Dealer-Anleitungen werden bereitgestellt.
Auswirkungen für Investoren: Da das Angebot einen unwesentlichen Anteil betrifft, werden keine Änderungen der Kontrolle, Kapitalstruktur oder operativen Grundlagen erwartet. Der Hauptzweck der Einreichung ist der Schutz der Aktionäre durch das Hervorheben potenzieller Risiken im Zusammenhang mit Mini-Tender-Mechanismen; sie enthält keine Finanzergebnisse, Prognosen oder strategische Updates.
- Mini-tender targets only 0.045 % of outstanding shares, implying negligible dilution or control risk.
- Management proactively alerts shareholders and cites SEC guidance, demonstrating strong governance and investor communication.
- Mini-tender circumvents full SEC tender-offer protections, potentially exposing uninformed holders to less favourable terms.
- Unsolicited offer introduces minor uncertainty and could distract management and investors.
Insights
TL;DR: Immateral mini-tender; Novo Nordisk cautions investors, signals sound governance, no operational impact.
TRC Capital’s bid for 2 M ADSs is well below the 5 % threshold that would trigger standard SEC tender-offer protections, limiting transparency for investors. Novo Nordisk’s neutral yet cautionary response aligns with best-practice governance: it neither blocks shareholder choice nor appears complicit, while pointing to SEC resources so investors grasp the risks. Given the tiny 0.045 % stake, the tender cannot influence control, earnings per share or liquidity. Market reaction should be muted, though brief volatility around ADS pricing is possible as arbitrageurs gauge participation. Overall, the disclosure is investor-protection housekeeping rather than a material corporate event.
Evento: Il 4 agosto 2025 Novo Nordisk A/S (NYSE: NVO) ha presentato un modulo 6-K dopo aver ricevuto un "mini-tender" non richiesto da TRC Capital Investment Corp., che propone l'acquisto fino a 2 milioni di American Depositary Shares (ADS), rappresentanti meno dello 0,045% del capitale sociale totale della società. L'offerta riguarda esclusivamente gli ADS, non le azioni ordinarie.
Posizione della società: Novo Nordisk mantiene una posizione neutrale, non sostiene l'offerta e consiglia ai detentori di ottenere quotazioni aggiornate, consultare consulenti, analizzare attentamente i termini dell'offerta (incluse eventuali revisioni del prezzo) e agire con cautela. La direzione sottolinea che i mini-tender interessano meno del 5% delle azioni e quindi evitano la piena divulgazione e le garanzie procedurali previste dalla SEC statunitense per le offerte pubbliche. Sono forniti link agli avvisi per investitori della SEC e alle linee guida per broker-dealer.
Impatto per gli investitori: Poiché l'offerta riguarda una quota irrilevante, non si prevedono cambiamenti nel controllo, nella struttura del capitale o nei fondamentali operativi. Lo scopo principale della comunicazione è proteggere gli azionisti segnalando i potenziali rischi legati ai meccanismi dei mini-tender; non contiene risultati finanziari, previsioni o aggiornamenti strategici.
Evento: El 4 de agosto de 2025, Novo Nordisk A/S (NYSE: NVO) presentó un Formulario 6-K tras recibir una "mini-oferta" no solicitada de TRC Capital Investment Corp. para comprar hasta 2 millones de American Depositary Shares (ADS), que representan menos del 0,045 % del capital social total de la compañía. La oferta aplica únicamente a los ADS, no a las acciones ordinarias.
Posición de la empresa: Novo Nordisk mantiene una postura neutral, no respalda la oferta y aconseja a los titulares obtener cotizaciones actuales, consultar asesores, examinar cuidadosamente los términos de la oferta (incluidas posibles revisiones de precio) y actuar con cautela. La dirección enfatiza que las mini-ofertas apuntan a menos del 5 % de las acciones y por ello evitan la divulgación completa y las salvaguardas procesales de la SEC estadounidense. Se proporcionan enlaces a alertas relevantes de la SEC para inversores y guías para corredores.
Impacto para los inversores: Dado que la oferta cubre una participación insignificante, no se esperan cambios en el control, la estructura de capital ni los fundamentos operativos. El propósito principal de la presentación es proteger a los accionistas señalando riesgos potenciales asociados con los mecanismos de mini-ofertas; no contiene resultados financieros, pronósticos ni actualizaciones estratégicas.
사건: 2025년 8월 4일, Novo Nordisk A/S (NYSE: NVO)는 TRC Capital Investment Corp.로부터 비공개 '미니 테이더' 제안을 받고 Form 6-K를 제출했습니다. 이 제안은 회사 전체 주식 자본의 0.045% 미만에 해당하는 최대 200만 주의 미국예탁증서(ADS) 매수를 목표로 하며, 일반 주식에는 적용되지 않습니다.
회사 입장: Novo Nordisk는 중립적인 입장을 유지하며 입찰을 지지하지 않고, 보유자들에게 현재 시세를 확인하고, 자문을 구하며, 제안 조건(가격 변경 포함)을 꼼꼼히 검토하고 신중히 행동할 것을 권고합니다. 경영진은 미니 테이더가 전체 주식의 5% 미만을 대상으로 하여 미국 증권거래위원회(SEC)의 전면 공시 및 절차적 보호 장치를 우회한다고 강조합니다. 관련 SEC 투자자 경고 및 중개업자 안내 링크가 제공됩니다.
투자자 영향: 제안이 미미한 지분에 한정되므로 지배권, 자본 구조 또는 운영 기본 사항에 변화가 없을 것으로 예상됩니다. 제출의 주요 목적은 미니 테이더 메커니즘과 관련된 잠재적 위험을 주주들에게 알리는 것이며, 재무 결과, 가이드라인 또는 전략적 업데이트는 포함하지 않습니다.
Événement : Le 4 août 2025, Novo Nordisk A/S (NYSE : NVO) a déposé un formulaire 6-K après avoir reçu une « mini-offre » non sollicitée de TRC Capital Investment Corp. visant à acheter jusqu'à 2 millions d'American Depositary Shares (ADS), représentant moins de 0,045 % du capital social total de la société. L'offre concerne uniquement les ADS, pas les actions ordinaires.
Position de l'entreprise : Novo Nordisk reste neutre, ne soutient pas l'offre et conseille aux détenteurs d'obtenir des cotations actuelles, de consulter des conseillers, d'examiner attentivement les termes de l'offre (y compris toute révision de prix) et d'agir avec prudence. La direction souligne que les mini-offres ciblent moins de 5 % des actions et contournent ainsi les exigences complètes de divulgation et les garanties procédurales de la SEC américaine. Des liens vers des alertes aux investisseurs de la SEC et des guides pour courtiers sont fournis.
Impact pour les investisseurs : Comme l'offre concerne une participation négligeable, aucun changement de contrôle, de structure du capital ou de fondamentaux opérationnels n'est attendu. Le principal objectif du dépôt est de protéger les actionnaires en signalant les risques potentiels liés aux mécanismes des mini-offres ; il ne contient aucun résultat financier, prévision ou mise à jour stratégique.
Ereignis: Am 4. August 2025 reichte Novo Nordisk A/S (NYSE: NVO) ein Formular 6-K ein, nachdem es ein unverlangtes "Mini-Tender"-Angebot von TRC Capital Investment Corp. erhalten hatte, das den Kauf von bis zu 2 Millionen American Depositary Shares (ADS) vorsieht, was weniger als 0,045 % des gesamten Aktienkapitals des Unternehmens entspricht. Das Angebot gilt nur für ADS, nicht für Stammaktien.
Unternehmensposition: Novo Nordisk bleibt neutral, unterstützt das Angebot nicht und rät den Inhabern, aktuelle Kurse einzuholen, Berater zu konsultieren, die Angebotsbedingungen (einschließlich etwaiger Preisänderungen) genau zu prüfen und vorsichtig zu handeln. Das Management betont, dass Mini-Tender weniger als 5 % der Aktien betreffen und daher die vollständigen Offenlegungs- und Verfahrensschutzvorschriften der US-SEC umgehen. Links zu relevanten SEC-Investorenwarnungen und Broker-Dealer-Anleitungen werden bereitgestellt.
Auswirkungen für Investoren: Da das Angebot einen unwesentlichen Anteil betrifft, werden keine Änderungen der Kontrolle, Kapitalstruktur oder operativen Grundlagen erwartet. Der Hauptzweck der Einreichung ist der Schutz der Aktionäre durch das Hervorheben potenzieller Risiken im Zusammenhang mit Mini-Tender-Mechanismen; sie enthält keine Finanzergebnisse, Prognosen oder strategische Updates.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________
FORM 6-K
________________
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
August 4, 2025
________________
NOVO NORDISK A/S
(Exact name of Registrant as specified in its charter)
Novo Allé 1
DK- 2880, Bagsvaerd
Denmark
(Address of principal executive offices)
________________
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F
| Form 20-F ☒ | Form 40-F ☐ |
Novo Nordisk A/S responds to “Mini-Tender” offer by TRC Capital
Bagsværd, Denmark, 4 August, 2025 – Novo Nordisk A/S (“Novo Nordisk”) (NYSE: NVO) has received notice of an unsolicited “mini-tender” offer by TRC Capital Investment Corporation (“TRC Capital”) to purchase up to 2,000,000 American Depositary Shares (“ADSs”) of Novo Nordisk. The offer is only in respect of ADSs and not ordinary shares. Thus, the offer is only for securities representing less than 0.045% of Novo Nordisk’s total share capital.
Novo Nordisk expresses no opinion and remains neutral on TRC Capital’s offer. Novo Nordisk encourages holders to obtain current market quotations for their NVO ADSs, consult with their brokers or financial advisors, review the terms and conditions of the offer including conditions as related to the market price of Novo Nordisk’s and other securities, consider any changes TRC Capital may make to the terms (including pricing) and conditions, and exercise caution with respect to TRC Capital’s offer.
Novo Nordisk does not endorse TRC Capital’s offer and is not associated in any way with TRC Capital, its unsolicited mini-tender offer or the offer documentation.
TRC Capital has made many similar mini-tender offers for shares of other companies. A mini-tender offer is for less than 5% of a company’s shares. It is not subject to the disclosure and procedural requirements required by the U.S. Securities and Exchange Commission (“SEC”) for larger tender offers and, as a result, does not provide investors with the same level of protection as provided by larger tender offers under U.S. securities laws. The SEC’s guidance to investors on mini-tender offers is available at https://www.sec.gov/reportspubs/investor-publications/investorpubsminitendhtm.html.
Additionally, Novo Nordisk encourages brokers, dealers, and other investors to review the SEC’s letter regarding broker-dealer mini-tender offer dissemination and disclosure, available at: https://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
Novo Nordisk requests that a copy of this news release be included with all distributions of materials relating to TRC Capital’s mini-tender offer.
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Novo Nordisk is a leading global healthcare company founded in 1923 and headquartered in Denmark. Our purpose is to drive change to defeat serious chronic diseases built upon our heritage in diabetes. We do so by pioneering scientific breakthroughs, expanding access to our medicines and working to prevent and ultimately cure disease. Novo Nordisk employs about 77,400 people in 80 countries and markets its products in around 170 countries. Novo Nordisk's B shares are listed on Nasdaq Copenhagen (Novo-B). Its ADRs are listed on the New York Stock Exchange (NVO). For more information, visit novonordisk.com, Facebook, Instagram, X, LinkedIn and YouTube.
Contacts for further information
| Media: | |
| Ambre James-Brown | Liz Skrbkova (US) |
| +45 3079 9289 | +1 609 917 0632 |
| abmo@novonordisk.com | lzsk@novonordisk.com |
| Investors: | |
| Jacob Martin Wiborg Rode | Sina Meyer |
| +45 3075 5956 | +45 3079 6656 |
| jrde@novonordisk.com | azey@novonordisk.com |
| Max Ung | Frederik Taylor Pitter (US) |
| +45 3077 6414 | +1 609 613 0568 |
| mxun@novonordisk.com | fptr@novonordisk.com |
Novo Nordisk A/S Investor Relations | Novo Allé 1 2880 Bagsværd Denmark | Telephone: +45 4444 8888 | www.novonordisk.com |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf of the undersigned, thereunto duly authorized.
| Date: August 4, 2025 |
NOVO NORDISK A/S
Lars Fruergaard Jørgensen Chief Executive Officer |
FAQ
What is TRC Capital’s mini-tender offer for Novo Nordisk (NVO)?
Does Novo Nordisk recommend that shareholders accept the mini-tender?
Why are mini-tenders subject to fewer SEC rules?
Will the mini-tender affect Novo Nordisk’s capital structure or strategy?
Where can investors find SEC guidance on mini-tender offers?
