2023-08-11 09:12:58 ET
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Rambus ( NASDAQ: RMBS ) said Friday that it would buyback about $100 million of its common stock as part of an accelerated share repurchase program.
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The company said it will pre-pay $100 million to Royal Bank of Canada and receive an initial delivery of about 1.6 million shares of its common stock within the first week of the program.
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The final number of shares to be repurchased will be determined based on the volume-weighted average price of the company's common stock during the terms of the transaction, less a discount.
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The program is expected to be completed by the end of the third quarter.
For further details see:
Rambus launches $100M stock buyback under ASR program