On August 11, 2023, Rambus Inc., a premier chip and silicon IP provider making data faster and safer, announced that it initiated an accelerated share repurchase program with Royal Bank of Canada to repurchase an aggregate of approximately $100 million of its common stock, with an initial delivery of approximately 1.6 million shares. Wilson Sonsini Goodrich & Rosati is representing Rambus on the transaction.

Under the accelerated share repurchase program, Rambus will pre-pay $100 million to Royal Bank of Canada and receive an initial delivery of approximately 1.6 million shares of its common stock within the first week of the program. The final number of shares to be repurchased will be determined based on the volume-weighted average price of Rambus common stock during the term of the transaction, less a discount. The program is expected to be completed by the end of the third quarter of 2023.

The Wilson Sonsini team advising Rambus on the transaction includes:

Derivatives
Mike Occhiolini
Andrew Ralston
Katie Barnes

Corporate
Michael Coke
Amanda Urquiza
Eric Abram
Allen Amin

Tax
Myra Sutanto Shen
Anthony Yanez

For more information, please see Rambus’ press release.