Form 8-K · Current Report · Filed 2024-03-01
Rambus Inc. Initiates $50 Million Accelerated Share Repurchase Program
Rambus Inc. announced on February 29, 2024, an accelerated share repurchase program with Royal Bank of Canada, through its agent RBC Capital Markets, LLC, to repurchase approximately $50 million of its common stock. This program, part of a broader share repurchase program authorized by the board, involves an initial pre-payment of $50 million for the repurchase of approximately 675,000 shares. The final number of shares will be determined by the volume-weighted average price of the company's common stock during the transaction period, less a discount. The program is expected to complete by the end of the first quarter of 2024, reflecting the company's capital allocation strategy and confidence in its long-term growth.
- Filer
- Rambus Inc. RMBS · NASDAQ
- Filed
- Accession
- 0001193125-24-054639
- CIK
- 0000917273
- Signal
- Medium impactTechnology
- Source
- Official filing on sec.gov ↗
Items reported
Entry into a Material Definitive Agreement
Creation of a Direct Financial Obligation
Financial Statements and Exhibits
Market reaction
Close before filing
$59.24
Next session
+6.5%
Since filing
+53.7%
Latest close
$91.03
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from RMBS reporting the same item, with the next session's move:
Exhibits (2)
About Rambus Inc.
Rambus Inc. is a technology company known for its development of sophisticated semiconductor and memory technologies. It specializes in designing high-speed memory interface technologies, custom silicon products, and security solutions that are essential for next-generation data centers and systems. Rambus plays a critical role in enabling faster data processing and secure digital communication, making it fundamental to industries like computing, automotive, and consumer electronics. This company collaborates with leading semiconductor companies, contributing vital intellectual property that enhances chip performance and security measures. Rambus is a significant player in the realm of intellectual property licensing and semiconductor innovation, continuing to impact the technological landscape with its advanced research and development efforts in high-speed data and security solutions.
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