Synopsys announces $300M accelerated share repurchase plan

Synopsys announced that it has entered into an accelerated share repurchase agreement with Wells Fargo Bank, NA to repurchase an aggregate of $300M of Synopsys stock. Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 787,000 shares, with the remainder, if any, to be settled on or before February 10, 2023, 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.