Rambus gains after on repurchase plan

Rambus

12/09/2022 16:22

** Shares in Rambus  RMBS.O  rise 3% to $26.29
    ** Rambus says it initiated an accelerated share repurchase
program with Wells Fargo Bank to buy back around $100 million of
its stock  urn:newsml:reuters.com:*:nBw4DByCpa
    ** The program is expected to be completed within four
months, Rambus says
    ** As of last close, Rambus had a market capitalization of
$2.82 billion, according to Refinitiv
    ** Rambus had cash and cash equivalents of $171.5 million as
of June 30  urn:newsml:reuters.com:*:nBw8Xmxqla
    ** Shares have fallen nearly 11% this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))