MOUNTAIN VIEW, Calif.,
June 24, 2021 /PRNewswire/
-- Synopsys, Inc. (Nasdaq: SNPS) today announced that it has
entered into an accelerated share repurchase agreement (ASR) with
Mizuho Markets Americas LLC 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.
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 an S&P 500
company, Synopsys has a long history of being a global leader in
electronic design automation (EDA) and semiconductor IP and offers
the industry's broadest portfolio of application security testing
tools and services. Whether you're a system-on-chip (SoC) designer
creating advanced semiconductors, or a software developer writing
more secure, high-quality code, Synopsys has the solutions needed
to deliver innovative products. Learn more at www.synopsys.com.
Forward-Looking Statements
This press release contains forward-looking statements,
including statements regarding the expected settlement of the ASR.
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 Mizuho Markets Americas LLC 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
Synopsys-ir@synopsys.com
EDITORIAL CONTACT:
Simone
Souza
Synopsys, Inc.
650-584-6454
simone@synopsys.com
View original
content:http://www.prnewswire.com/news-releases/synopsys-initiates-175-million-accelerated-share-repurchase-agreement-301319367.html
SOURCE Synopsys, Inc.