Synopsys To Repurchase $1 Bln In Shares Under Accelerated Buyback
(RTTNews) - Synopsys Inc. (SNPS), a technology company, on Monday announced that it has entered into an accelerated share repurchase agreement with JPMorgan Chase Bank, JPMorgan Chase & Co. (JPM) to repurchase $1 billion of its common stock.
Under the agreement, the company will initially receive approximately 1.735 million shares.
The remaining shares will be settled on or before January 5, 2027, upon completion of the repurchases, if any.
The final number of shares repurchased will be based on the average daily volume-weighted average share price during the repurchase period, less a discount.
In the pre-market trading, Synopsys is 1.12% higher at $495.38 on the Nasdaq.
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