Altair Engineering Inc. Announces Closing of Initial Public Offering and Full Exercise of Underwriters' Option to Purchase Ad...
November 06 2017 - 8:00AM
Altair Engineering Inc. (NASDAQ:ALTR) today announced the closing
of its initial public offering and the exercise in full of the
underwriters’ option to purchase an additional 1,800,000 shares of
its Class A common stock.
After the underwriters’ exercise of the option
to purchase additional shares, Altair sold 9,865,004 shares of
Class A common stock and the selling shareholders sold 3,934,996
shares at a price to the public of $13.00 per share for a total of
$179,400,000 in aggregate gross proceeds. The shares are listed for
trading on the NASDAQ Global Select Market under the ticker symbol
“ALTR.”
J.P. Morgan Securities LLC, RBC Capital Markets,
LLC and Deutsche Bank Securities Inc. acted as bookrunners for the
offering. William Blair & Company, L.L.C. and Canaccord Genuity
Inc. acted as co-managers for the offering.
The offering was made only by means of a
prospectus. A final prospectus for the offering 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 was declared effective by the Securities and Exchange
Commission (SEC) on October 31. 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
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