Rambus to repurchase $123.1M of 1.375% Convertible Notes due 2023 for ~$184.4M cash

RAMBUS INC

Repurchase price based on $27.20 closing stock price; actual cash subject to adjustment over 19-day measurement period ending March 29, 2022.
Closing expected on or about March 31, 2022; after repurchase, $49.4M principal of 2023 Notes will remain outstanding.
Rambus also expects to terminate corresponding portions of convertible note hedge and warrant transactions with option counterparties.
Option counterparties may sell shares of Common Stock in secondary market or unwind derivative transactions shortly after the repurchase.

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