JWCA advises Rambus on its $50 million accelerated share repurchase

March 2024 | READ PRESS RELEASE

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

• Assisted the Rambus team with ASR design and maturity objectives

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

  • Led an auction process to drive highly competitive pricing and achieve the largest possible discount per share

  • 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 $50mm

• Rambus’ shares outstanding were immediately reduced by ~0.7mm shares, ~0.6% of shares outstanding

• This is JWCA’s fifth advisory assignment for Rambus, having previously advised the Company on its $100mm ASR in August 2023, $100mm ASR in September 2022, ~$123mm and ~$39mm convertible repurchases in February and August 2022