Synopsys Initiates $100 Million Accelerated Share Repurchase Agreement

MOUNTAIN VIEW, Calif., Feb. 27, 2020 — (PRNewswire) — Synopsys, Inc. (Nasdaq: SNPS) today announced that it has entered into an accelerated share repurchase agreement (ASR) with JPMorgan Chase Bank, 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 563K shares, with the remainder, if any, to be settled on or before May 15, 2020, upon completion of the repurchases. The specific number of shares that Synopsys ultimately repurchases under the ASR will be based on the average of Synopsys' daily volume-weighted average share prices 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 JPMorgan Chase Bank, 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
Email Contact 

EDITORIAL CONTACT:
Simone Souza
Synopsys, Inc.
650-584-6454
Email Contact

 

Cision View original content: http://www.prnewswire.com/news-releases/synopsys-initiates-100-million-accelerated-share-repurchase-agreement-301012475.html

SOURCE Synopsys, Inc.

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





Review Article Be the first to review this article
Aldec

Featured Video
Jobs
Sr. Application Engineer for Mentor Graphics at Fremont, California
Senior Account Managers… FORMAL VERIFICATION...VALLEY for EDA Careers at San Jose, California
Senior and (less) Senior Design Verification Engineers for EDA Careers at San Jose and Austin, California
Senior Software Engineer for EDA Careers at San Jose, California
Upcoming Events
Linley Spring Processor Conference at Virtual Event CA - Apr 6 - 9, 2020
Embedded Vision Summit 2020 at Santa Clara Convention Center Santa Clara CA - May 18 - 21, 2020
Sensors Expo & Conference at McEnery Convention Center 150 W. San Carlos Street SAN JOSE CA - Jun 22 - 24, 2020
Nanotech 2020 Conference and Expo at National Harbor MD - Jun 29 - 1, 2020



© 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