Synopsys (SNPS) Reports $100M Accelerated Share Repurchase Agreement

Synopsys, Inc. (Nasdaq: SNPS) today announced that it has entered into an accelerated share repurchase agreement (ASR) with HSBC, to repurchase an aggregate of $100 million of Synopsys stock. The agreement is in addition to Synopsys' $300 million in stock repurchases thus far in fiscal year 2017.

Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 1.01 million shares, with the remainder, if any, to be settled on or before November 20, 2017, upon completion of the repurchase. The specific number of shares that Synopsys ultimately repurchases under the ASR will be based on Synopsys' volume-weighted average share price during the repurchase period, less a discount.

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