Altair Announces Proposed Offering of Convertible Senior Notes
Altair Engineering Inc. - Class A (ALTR)
Last altair engineering inc. - class a earnings: 2/27 04:05 pm
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investor.altair.com/overview
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Source: GlobeNewswire
TROY, Mich., June 04, 2019 (GLOBE NEWSWIRE) -- Altair Engineering Inc. (Nasdaq: ALTR) (“Altair”) today announced that it intends to offer, subject to market and other conditions, $175 million aggregate principal amount of convertible senior notes due 2024 (the “Notes”) in an underwritten offering registered with the Securities and Exchange Commission (the “SEC”). The Notes will be convertible into cash and/or shares of Altair’s Class A common stock at Altair’s election. The interest rate, conversion price and other terms of the Notes are to be determined upon pricing of the offering. In addition, Altair expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the Notes offered. J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and RBC Capital Markets, LLC will act as joint bookrunners for the offering. Altair intends to use a portion of the net proceeds received from the offering to repay outstanding indebtedness under its $150.0 million revolvin
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