Company: SNPS
Filing Date: 2025-07-17
Form Type: 425
Source: 0001140361-25-026140
Chunk: 4

Company: SYNOPSYS INC
Filing Date: 2025-07-17
Form: 425
Chunk 4
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. Synopsys funded the Cash Consideration through a combination of cash on hand, proceeds from the issuance of senior notes and borrowings under the Term Loan Credit Agreement referred to in Item 2.03 below. The description of the effects of the Merger Agreement and the transactions contemplated by the Merger Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Merger Agreement, which was filed as Exhibit 2.1 to Synopsys’ Form 8-K, filed with the SEC on January 16, 2024, and which is incorporated herein by reference.

| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |

As previously reported, on February 13, 2024, Synopsys entered into a senior unsecured term loan credit agreement (the “ Term Loan Credit Agreement”). On July 17, 2025, Synopsys borrowed the full $4.3 billion available under the Term Loan Credit Agreement to fund a portion of the Cash Consideration, to pay transaction fees and expenses related to the Merger, such as the incurrence of indebtedness by Synopsys or one of its subsidiaries, the use of proceeds as described in the Term Loan Credit Agreement and the payment of related fees, premiums and expenses, and to repay Ansys’ outstanding indebtedness. The description of the Term Loan Credit Agreement is set forth under Item 1.01 in Synopsys’ Current Report on Form 8-K filed on February 14, 2024 (the “ Prior Term Loan 8-K”), which description is incorporated herein by reference. In addition, the Credit Agreement was filed as Exhibit 2.2 to the Prior Term Loan 8-K and is incorporated herein by reference. On July 17, 2025, Synopsys terminated the approximately $690 million in remaining commitments under the previously disclosed commitment letter for a bridge facility to fund the Merger, reducing total commitments for the bridge facility to $0.

| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |

On July 17, 2025, in accordance with the applicable provisions of Synopsys’ amended and restated bylaws, the Board of Directors (the “ Board”) of Synopsys increased the size of