Rambus launches $50M accelerated buyback

|By:, SA News Editor

Rambus (RMBS +0.2%) has launched an accelerated share repurchase program with Barclays to buy back $50M in common stock.

The company will prepay the $50M to Barclays and take an initial delivery of more than 3.19M shares in the first week; the final number of shares will depend on volume-weighted average pricing, minus a discount.

The program (part of Rambus' broader buyback) is expected to be wrapped by November.

After hours: RMBS +0.4%.

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