Rambus enters $100M accelerated share repurchase agreement with RBC

RAMBUS INC

Pre-paid $100M to RBC; initial delivery of ~1.6M shares within first week.
Final share count based on VWAP during transaction; expected completion by Q3 2023.
Part of broader board-authorized buyback; CEO cites strong balance sheet and cash generation.
Program reflects management confidence in long-term growth and stockholder value.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RAMBUS INC entered into Supplemental Confirmation under the Master Confirmation (ASR Agreement) with Royal Bank of Canada, through its agent RBC Capital Markets, LLC valued at $100 million accelerated share repurchase program (effective 2023-08-10).

Action: entry
Agreement: equity purchase
Counterparty: Royal Bank of Canada, through its agent RBC Capital Markets, LLC
Value: $100 million accelerated share repurchase program
Effective: 2023-08-10

Exact text from the filing

On August 10, 2023, Rambus Inc. (NASDAQ: RMBS) (the “Company”) entered into a Supplemental Confirmation under the Master Confirmation (the “Master Agreement,” and together with the Supplemental Confirmation, the “ASR Agreement”) with Royal Bank of Canada, through its agent RBC Capital Markets, LLC (“Dealer”), pursuant to an accelerated share repurchase program (the “ASR Program”) under which the Company will repurchase shares of the Company’s common stock for an aggregate purchase price of approximately $100 million (the “Shares”).

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RAMBUS INC filing history →

Source: SEC EDGAR

accession 0001193125-23-209953

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