Altair Engineering Inc. Announces Pricing of Initial Public Offering
October 31 2017 - 8:29PM
Altair Engineering Inc. (NASDAQ:ALTR) today announced the pricing
of its initial public offering of 12,000,000 shares of its Class A
common stock at a price of $13.00 per share, for a total offering
size of $156 million. Of these shares, 8,065,004 are being
offered by Altair and 3,934,996 are being offered by selling
stockholders. The shares are expected to begin trading on the
NASDAQ Global Select Market under the ticker symbol “ALTR” on
November 1, 2017, and the offering is expected to close on November
3, 2017. In addition, Altair has granted the underwriters a
30-day option to purchase up to an additional 1,800,000 shares of
Class A common stock at the initial public offering price, less the
underwriting discount, to cover over-allotments, if
any.
J.P. Morgan Securities LLC, RBC Capital Markets,
LLC and Deutsche Bank Securities Inc. are acting as bookrunners for
the proposed offering. William Blair & Company, L.L.C. and
Canaccord Genuity Inc. are acting as co-managers for the proposed
offering.
The offering will be made only by means of a
prospectus. A final prospectus for the offering, when available,
may be obtained from J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
or by telephone at (866) 803-9204; RBC Capital Markets, LLC,
attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York,
NY 10281-8098, or by email to equityprospectus@rbccm.com, or by
telephone at (877) 822-4089; or Deutsche Bank Securities Inc.,
Attn: Prospectus Group, 60 Wall Street, New York, NY 10005, by
telephone at (800) 503-4611, or by email to
prospectus.CPDG@db.com.
A registration statement relating to these
securities has been filed with, and declared effective by, the
Securities and Exchange Commission (SEC). Copies of the
registration statement can be accessed through the SEC's website at
www.sec.gov. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Altair Altair is focused on the
development and broad application of simulation technology to
synthesize and optimize designs, processes and decisions for
improved business performance. With more than 2,000 employees,
Altair is headquartered in Troy, Michigan, USA and operates 68
offices throughout 24 countries. Today, Altair serves approximately
5,000 corporate clients across broad industry segments.
Investor RelationsGaro
ToomajanianICR248-614-2400 x346ir@altair.com
Media RelationsMatthew
LindbergICR203-682-8214AltairPR@icrinc.com
Altair Engineering (NASDAQ:ALTR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Altair Engineering (NASDAQ:ALTR)
Historical Stock Chart
From Sep 2023 to Sep 2024