Synopsys Inks ASR Agreement With Wells Fargo Bank To Repurchase $200 Mln Stock

(RTTNews) - Software company Synopsys, Inc. (SNPS) announced Friday that it has entered into an accelerated share repurchase agreement (ASR) with Wells Fargo Bank, NA to repurchase an aggregate of $200 million of Synopsys stock.

Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 523,000 shares, with the remainder, if any, to be settled on or before August 15 2022, 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.