Synopsys initiates $300M accelerated share repurchase agreement

Synopsys has entered into an accelerated share repurchase agreement with Wells Fargo Bank to repurchase an aggregate of $300M of Synopsys stock. Synopsys will receive an aggregate initial share delivery of approximately 569,000 shares, with the remainder, if any, to be settled on or before November 22, 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.