Synopsis Expedites $100M Share Buyback Agreement

Synopsys Inc SNPS inked an accelerated share repurchase agreement with Mizuho Markets Americas LLC to buy back $100 million of Synopsys shares.
Synopsys will receive an aggregate initial share delivery of 315,000 shares, with any remainder settlement by May 14 under the arrangement.
The share buyback will be based on the average of Synopsys' daily volume-weighted average share prices during the repurchase period, minus discount.
Synopsys held cash and equivalent of $1.02 billion as of Jan. 31, 2021.
Price action: SNPS shares traded higher by 1.27% at $257.47 on the last check Monday.

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