Synopsys Initiates $100 Million Accelerated Share Repurchase Agreement

MOUNTAIN VIEW, Calif., Dec. 19, 2019 — (PRNewswire) —   Synopsys, Inc. (Nasdaq: SNPS) today announced that it has entered into an accelerated share repurchase agreement (ASR) with HSBC Bank USA, National Association to repurchase an aggregate of $100 million of Synopsys stock.

Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 579K shares, with the remainder, if any, to be settled on or before February 27, 2020, upon completion of the repurchases. The specific number of shares that Synopsys ultimately repurchases under the ASR will be based on Synopsys' volume-weighted average share price during the repurchase period, less a discount.

About Synopsys

Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As the world's 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software security and quality solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest security and quality, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.     

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the expected settlement of the ASR. Forward-looking statements are subject to both known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include, among others: the market price of Synopsys common stock during the repurchase period; the ability of HSBC Bank USA, National Association to buy or borrow shares of Synopsys common stock; and the impact of global and regional economic and market conditions, including illiquidity and other risks of instability in the banking and financial services industry. Other risks and uncertainties that may apply are set forth in the Risk Factors section of Synopsys' most recently filed Annual Report on Form 10-K. Synopsys assumes no obligation to update any forward-looking statement contained in this press release.

INVESTOR CONTACT:
Lisa L. Ewbank
Synopsys, Inc.
650-584-1901
Synopsys-ir@synopsys.com

EDITORIAL CONTACT:
Simone Souza
Synopsys, Inc.
650-584-6454
simone@synopsys.com

 

Cision View original content: http://www.prnewswire.com/news-releases/synopsys-initiates-100-million-accelerated-share-repurchase-agreement-300977433.html

SOURCE Synopsys, Inc.

Contact:
Company Name: Synopsys, Inc.
Web: http://www.synopsys.com
Financial data for Synopsys, Inc.




Review Article Be the first to review this article

Featured Video
Latest Blog Posts
Jacek HankeEDACafe Editorial
by Jacek Hanke
EDACafe Industry Predictions for 2020 – DCD
Colin WallsEmbedded Software
by Colin Walls
struct vs class in C++
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
Revenue Increase Offers Welcome News to Start 2020
Jobs
Salesforce Technical Lead   East Coast  for EDA Careers at Cherry Hill, New Jersey
Senior Account Manager… FORMAL VERIFICATION...VALLEY for EDA Careers at San Jose, California
Senior Software Architect Internet for EDA Careers at San Jose, California
Ecommerce Account Manager for Bright Atlas LLC at Miami Gardens, Florida
Upcoming Events
RWW 2020 at San Antonio TX - Jan 26 - 29, 2020
DesignCon 2020 at Santa Clara Convention Center Santa Clara CA - Jan 28 - 30, 2020
3D Printing Electronics Conference at High Tech Campus 1b 5656 AE Eindhoven Netherlands - Jan 28, 2020
DesignCon 2020 at 5001 Great America Pkwy Santa Clara CA - Jan 28 - 30, 2020
call for Contribution



Internet Business Systems © 2020 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise