Rambus Initiates $100 Million Accelerated Share Repurchase Program
- Rambus' accelerated share repurchase program demonstrates confidence in the company's long-term growth.
- The program is part of Rambus' strategic approach to capital allocation.
- Rambus will repurchase approximately $100 million of its common stock.
- The program is expected to be completed by the end of the third quarter of 2023.
- None.
“This program is part of our strategic approach to capital allocation and demonstrates our confidence in the long-term growth of the company,” said Luc Seraphin, president and chief executive officer at Rambus. “Our robust balance sheet and strong cash generation allow us to consistently deliver value to our stockholders.”
Under the accelerated share repurchase program, Rambus will pre-pay
The accelerated share repurchase program is part of the broader share repurchase program previously authorized by the Rambus Board of Directors.
About Rambus Inc.
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’s data needs and drive ever-greater end-user experiences. For more information, visit rambus.com.
Forward-Looking Statements
This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 relating, among other things, to the terms of Rambus’ accelerated share repurchase program, including timing. Such forward-looking statements are based on current expectations, estimates and projections, management’s beliefs and certain assumptions made by Rambus’ 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’ Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2023. 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.
Related Links
View source version on businesswire.com: https://www.businesswire.com/news/home/20230811599166/en/
Nicole Noutsios
Rambus Investor Relations
(510) 315-1003
rambus@nmnadvisors.com
Source: Rambus Inc.
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