Synopsys $175m accelerated share repurchase agreement
Synopsys has announced that it has entered into an accelerated share repurchase agreement (ASR) with Mizuho Markets Americas to repurchase an aggregate of $175 million of Synopsys stock.
Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 521,000 shares, with the remainder, if any, to be settled on or before August 18, 2021, 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.
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