Company: SNPS
Filing Date: 2025-07-17
Form Type: 425
Source: 0001140361-25-026144
Chunk: 2

Company: SYNOPSYS INC
Filing Date: 2025-07-17
Form: 425
Chunk 2
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ger (the “ Effective Time”), each share of common stock, par value $0.01 per share, of the Company (“ Company Common Stock”) issued and outstanding immediately prior to the Effective Time (subject to certain exceptions) was converted into the right to receive (i) 0.3399 (the “ Exchange Ratio”) of a share of common stock, par value $0.01 per share, of Synopsys (the “ Synopsys Common Stock”) (the “ Stock Consideration”) and (ii) $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 Company 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 Company 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 the Company 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 the Company or any of its subsidiaries (a “ Canceled Option”) was canceled and extinguished for no consideration. Pursuant to the Merger Agreement, as