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CADENCE DESIGN SYSTEMS INC 8-K Report, Corporate Update (Dec 13, 2006)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed December 13, 2006
Period End
December 12, 2006
Security
CDNS
In the record · 2016–202610-K1210-Q328-K98

CDNS filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 98 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Leadership change8-K · May ’19May ’19
  3. Leadership change8-K · Jul ’21Jul ’21
  4. Material agreement8-K · Sep ’25Sep ’25

01—Abstract

Summary

Summary of the 8-K filed December 13, 2006. Cited figures are marked; the original filing is the authoritative source.

Cadence Design Systems, Inc. (CDNS) announced on December 12, 2006, two significant financial strategies: a proposed offering of $500 milliona in senior convertible notes, split between maturities in 2011 and 2013, and a new authorization to repurchase up to $500 million of its common stock.

These actions suggest management's focus on capital structure optimization and returning value to shareholders. Additionally, the company disclosed it is a defendant in a patent infringement lawsuit filed in November 2006.

The suit alleges infringement of a patent for an electronic simulation and emulation system. Cadence disputes these claims and intends to defend itself vigorously, indicating a potential legal contingency that investors should monitor.

02—Key points

Key Highlights

  1. Proposed offering of $250 million in senior convertible notes due 2011.
  2. Proposed offering of $250 million in senior convertible notes due 2013.
  3. Board authorized a new common stock repurchase program of up to $500 million.
  4. The stock repurchase authorization is in addition to any remaining amount under previous authorizations.
  5. Cadence is named as a defendant in a patent infringement lawsuit filed on November 8, 2006.
  6. The lawsuit alleges infringement of a patent for an electronic simulation and emulation system.
  7. Cadence disputes the patent infringement claims and intends to defend the lawsuit vigorously.

03—Questions

Frequently Asked Questions

  1. What is the total value of the proposed convertible note offering?

    Cadence is proposing to offer a total of $500 million in principal amount of senior convertible notes, with $250 million due in 2011 and $250 million due in 2013.

  2. What is the new stock repurchase program's value and status?

    The Board of Directors has authorized the repurchase of up to $500 million of Cadence's common stock. This authorization is effective immediately and is in addition to any remaining amount from prior repurchase programs.

  3. What is the nature of the lawsuit filed against Cadence?

    Cadence, along with five other companies, has been sued for alleged patent infringement. The patent in question relates to an electronic simulation and emulation system. Cadence denies the allegations and plans to contest the lawsuit.

  4. Does the lawsuit seek specific monetary damages?

    The plaintiff is seeking unspecified damages, as well as attorneys' fees and costs.

04—Continue

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