Synopsys Initiates $125 Million Accelerated Share Repurchase Agreement

MOUNTAIN VIEW, Calif., May 24, 2016 — (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 $125 million of Synopsys stock.

Under the terms of the ASR, Synopsys will receive an initial share delivery of approximately 2.0 million shares, with the remainder to be settled on or before August 15, 2016, upon completion of the repurchase. 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 16th 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 quality and security solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest quality and security, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.  

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the expected settlement of the ASRs. 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 Quarterly Report on Form 10-Q. 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:
Sheryl Gulizia
Synopsys, Inc.
650-584-8635
Email Contact

 

To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/synopsys-initiates-125-million-accelerated-share-repurchase-agreement-300273840.html

SOURCE Synopsys, Inc.

Contact:
Synopsys, Inc.
Web: http://www.synopsys.com




Review Article Be the first to review this article
Bentley:

Featured Video
Latest Blog Posts
Alex Carrick, Chief Economist at ConstructConnectThe AEC Lens
by Alex Carrick, Chief Economist at ConstructConnect
The Economy under COVID-19: Notes from the Trenches (40)
Jobs
Mechanical Designer for TechnipFMC at Houston,, Texas
GIS Analyst #14713 for State of Missouri at Jefferson City,, Missouri
Geographic Information System Analyst II for State of Idaho at Boise, Idaho
ROV Pilot II for TechnipFMC at Houston,, Texas
Upcoming Events
BUILDINGSNY -postponed June 17-18, 2020 at Javits Center New York City NY - Jun 17 - 18, 2020
Urban Planning & Architectural Design for Sustainable Development – 5th Edition at Rome,Italy Roma Tre University Rome Italy - Jul 7 - 9, 2020
Cities’ Identity Through Architecture and Arts – 4th Edition at Rome,Italy Rome Italy - Jul 7 - 9, 2020
AEC Next Technology Expo + Conference (NEW DATE), at McCormick Place Chicago IL - Jul 27 - 29, 2020
Kenesto: 30 day trial
Bentley: Livestream On Demand
CADalog.com - Countless CAD add-ons, plug-ins and more.



© 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:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise