Rambus repurchases ~$39M of 2023 convertible notes for ~$57M; remaining $10M outstanding

RAMBUS INC

Repurchasing ~$39M aggregate principal of 1.375% Convertible Senior Notes due 2023 for ~$57M cash.
Cash consideration based on assumed stock price of $26.88; actual amount subject to 10-day measurement period.
After closing, ~$10M principal of 2023 Notes remain outstanding with unchanged terms.
Expects to terminate corresponding portions of convertible note hedge and warrant transactions.
Option counterparties may sell shares of common stock in secondary market as a result of unwinding.

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