Synopsys launches $1 billion accelerated share repurchase agreement
Synopsys entered into an accelerated share repurchase agreement with JPMorgan Chase Bank to buy back $1 billion of its common stock.
Synopsys, Inc. (SNPS) said on Monday it entered into an accelerated share repurchase agreement with JPMorgan Chase Bank, National Association to buy back an aggregate of $1 billion of its common stock.
Under the terms of the agreement, the company will receive an initial share delivery of approximately 1,735,000 shares.
The remainder of the shares will be settled on or before Jan. 5, 2027, upon completion of the repurchases.
The total number of shares Synopsys ultimately repurchases will depend on the average of the daily volume-weighted average share prices during the repurchase period, less a discount, according to a regulatory filing.