Synopsys enters $250M accelerated share repurchase agreement

Synopsys (SNPS) announced that it has entered into an accelerated share repurchase agreement with The Bank of Nova Scotia to repurchase an aggregate of $250M of Synopsys stock. Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 513,000 shares, with the remainder, if any, to be settled on or before June 1, 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.