Cadence enters $200M accelerated share repurchase agreement with HSBC

CADENCE DESIGN SYSTEMS INC

ASR agreement with HSBC Bank USA to repurchase $200M of common stock.
Cadence receives initial delivery of ~600,000 shares; balance settled in Q3 2023.
Final repurchase price based on daily VWAP during the term less a discount.
Buyback signals confidence in capital allocation and shareholder returns.

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