On March 1, 2024, Rambus Inc., a provider of industry-leading chips and silicon IP 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 $50 million of its common stock, with an initial delivery of approximately 675,000 shares. Wilson Sonsini Goodrich & Rosati is representing Rambus in the transaction.

Under the accelerated share repurchase program, Rambus will pre-pay $50 million to Royal Bank of Canada and receive an initial delivery of approximately 675,000 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 first quarter of 2024.

The Wilson Sonsini team advising Rambus on the transaction includes:

Derivatives
Andrew Ralston
Katie Barnes
Julia Anderson

Corporate
Michael Coke
Amanda Urquiza
Jacie Valentine  
Jacob Morales

Tax
Myra Sutanto Shen
Anthony Yanez

For more information, please see Rambus’ press release.