{"id":61926,"date":"2022-09-12T06:02:02","date_gmt":"2022-09-12T13:02:02","guid":{"rendered":"https:\/\/www.rambus.com\/?p=61926"},"modified":"2022-09-12T06:02:02","modified_gmt":"2022-09-12T13:02:02","slug":"rambus-initiates-accelerated-share-repurchase-program-5","status":"publish","type":"post","link":"https:\/\/www.rambus.com\/rambus-initiates-accelerated-share-repurchase-program-5\/","title":{"rendered":"Rambus Initiates Accelerated Share Repurchase Program"},"content":{"rendered":"

SAN JOSE, Calif. \u2013 Sep. 12, 2022 <\/strong>\u2013 Rambus Inc.<\/a>\u00a0(NASDAQ:\u00a0RMBS<\/a>), a provider of industry-leading chips and silicon IP making data faster and safer, today announced that it initiated an accelerated share repurchase program with Wells Fargo Bank, National Association (\u201cWells Fargo Bank\u201d), to repurchase an aggregate of approximately\u00a0$100 million\u00a0of its common stock, with an initial delivery of approximately 3.1 million shares.<\/p>\n

\u201cAs part of our strategic approach to capital allocation, this program demonstrates our confidence in the future growth of the company, and highlights our continuing ability to invest in critical products and technologies while delivering long-term value to our stockholders,\u201d said\u00a0Luc Seraphin, president and chief executive officer at Rambus.<\/p>\n

Under the accelerated share repurchase program, Rambus will pre-pay to Wells Fargo Bank the\u00a0$100 million\u00a0purchase price for its common stock and, in turn, Rambus will receive an initial delivery of approximately 3.1 million shares of its common stock from Wells Fargo Bank within the first week of the program. The number of shares to be purchased ultimately by Rambus will be determined based on the volume-weighted average price of Rambus common stock during the terms of the transaction, minus an agreed upon discount between the parties. The program is expected to be completed within four months.<\/p>\n

The accelerated share repurchase program is part of the broader share repurchase program previously authorized by the Rambus Board of Directors.<\/p>\n

About Rambus Inc.<\/strong><\/p>\n

Rambus is a provider of industry-leading chips and silicon IP making data faster and safer. With over 30 years of advanced semiconductor experience, we are a pioneer in high-performance memory subsystems that solve the bottleneck between memory and processing for data-intensive systems. Whether in the cloud, at the edge or in your hand, real-time and immersive applications depend on data throughput and integrity. Rambus products and innovations deliver the increased bandwidth, capacity and security required to meet the world\u2019s data needs and drive ever-greater end-user experiences. For more information, visit\u00a0rambus.com<\/a>.<\/p>\n

Forward-Looking Statements<\/strong><\/p>\n

This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 relating, among other things, to the terms of Rambus\u2019 accelerated share repurchase program, including timing, Rambus\u2019 growth potential, and the long-term success of Rambus\u2019 investment strategy. Such forward-looking statements are based on current expectations, estimates and projections, management\u2019s beliefs and certain assumptions made by Rambus\u2019 management. Actual results may differ materially. The forward-looking statements contained in this press release are subject to risks and uncertainties, including those more fully described in Rambus\u2019 Quarterly Report on Form 10-Q for the fiscal quarter ended\u00a0June 30, 2022. The forward-looking statements in this press release are based on information available to Rambus as of the date hereof, and Rambus undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.<\/p>\n

Contact:
\n<\/strong>Nicole Noutsios
\nRambus Investor Relations
\n(510) 315-1003
\nrambus@nmnadvisors.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

SAN JOSE, Calif. \u2013 Sep. 12, 2022 \u2013 Rambus Inc.\u00a0(NASDAQ:\u00a0RMBS), a provider of industry-leading chips and silicon IP making data faster and safer, today announced that it initiated an accelerated share repurchase program with Wells Fargo Bank, National Association (\u201cWells Fargo Bank\u201d), to repurchase an aggregate of approximately\u00a0$100 million\u00a0of its common stock, with an initial […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[799,82,34,1],"tags":[],"class_list":{"0":"post-61926","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-press-releases-corporate","7":"category-financial","8":"category-pressreleases","9":"category-uncategorized","10":"entry"},"yoast_head":"\nRambus Initiates Accelerated Share Repurchase Program - 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