Cadence Design Systems enters into $100M accelerated share repurchase agreement
Cadence Design Systems (NASDAQ:CDNS) shares popped overÂ 2%Â pre-market after the firm announced an accelerated share repurchase agreement with Royal Bank of Canada to buyback an aggregate of $100M of its common stock.
Pursuant to the agreement, Cadence (CDNS) will initially receive ~489K shares, with the remainder, if any, to be settled in the third quarter of 2022 upon completion of the repurchases.