Business News: Synopsys Initiates $100 Million Accelerated Share Repurchase Agreement

MOUNTAIN VIEW, CA (STL.News) – Synopsys, Inc. (Nasdaq: SNPS) today announced that it has entered into an accelerated share repurchase agreement (ASR) with Wells Fargo Bank, NA 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 585K shares, with the remainder, if any, to be settled on or before November 26, 2019, 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.