Company: SNPS
Filing Date: 2025-07-17
Form Type: 425
Source: 0001140361-25-026140
Chunk: 2

Company: SYNOPSYS INC
Filing Date: 2025-07-17
Form: 425
Chunk 2
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199.91 in cash, without interest (the “ Per Share Cash Amount,” and in the aggregate, the “ Cash Consideration”), subject to applicable withholding taxes (the foregoing clauses (i) and (ii), collectively, the “ Merger Consideration”). Because the aggregate number of shares of Synopsys Common Stock to be issued in connection with the Merger would have exceeded 19.9999% of the shares of Synopsys Common Stock issued and outstanding immediately prior to the Effective Time (the “ Maximum Share Number”), (a) the Exchange Ratio was, pursuant to the terms of the Merger Agreement, reduced from the Exchange Ratio previously reported to the minimum extent necessary to ensure that the aggregate number of shares of Synopsys Common Stock issued in connection with the Merger did not exceed the Maximum Share Number and (b) the Per Share Cash Amount was, pursuant to the terms of the Merger Agreement, correspondingly increased from the Per Share Cash Amount previously reported to offset such adjustment. No fractional shares of Synopsys Common Stock will be issued in connection with the Merger, and Ansys stockholders will receive cash in lieu of any fractional shares, as specified in the Merger Agreement. Pursuant to the Merger Agreement, as of the Effective Time, (i) each in-the-money option to purchase shares of Ansys Common Stock that was held by a person who, as of immediately prior to the Effective Time, was no longer an employee or other service provider of Ansys or its subsidiaries (each, a “ Specified Option”) was canceled and extinguished, and the holder thereof became entitled to receive an amount in cash as specified in the Merger Agreement and (ii) each out-of-the-money option held by a person who, as of immediately prior to the Effective Time, was no longer an employee or other service provider to Ansys or any of its subsidiaries (a “ Canceled Option”) was canceled and extinguished for no consideration. Pursuant to the Merger Agreement, as of the Effective Time, each option to purchase shares of Ansys Common Stock that was not a Specified Option or a Canceled Option was assumed by Synopsys and converted into an option to purchase, on the same terms and conditions as were applicable under such option, a number of shares of Synopsys Common Stock (rounded down to the nearest whole share) based on a conversion ratio equal to the sum of the Exchange Ratio plus the quotient obtained by dividing the Per Share Cash Amount by the volume weighted average trading price of