JWCA advises Rambus on its $100 million accelerated share repurchase

september 2022 | READ PRESS RELEASE

J. Wood Capital Advisors acted as financial advisor to Rambus, Inc. (“the “Company”), and led the execution of the Company’s second accelerated share repurchase program

• Assisted the Rambus team with ASR design and maturity objectives (including final settlement expected to occur in the fourth quarter of 2022)

• Created a process to achieve the best terms for Rambus:

  • Led an auction process to drive Company-friendly pricing and achieve the largest possible discount

  • Reviewed the documents to ensure company-friendly provisions

• Provided advice, support and analysis during the execution

Results

• The auction process allowed the Company to achieve a meaningful discount at a transaction size of $100mm

• Rambus’ shares outstanding were immediately reduced by ~3.1mm shares, nearly 3% of their shares outstanding

• This is JWCA’s third advisory assignment for Rambus, having previously advised the Company on its ~$123mm and ~$39mm convertible repurchases in February and August 2022