Altair Engineering (ALTR) IPO Opens Up 31%

Today's IPO for Altair Engineering (NASDAQ: ALTR) opened for trading at $17 after pricing 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.

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.

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.

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