Altair Engineering (ALTR) plans to raise $144 million in an IPO on Wednesday, November 1st, IPO Scoop reports. The company will be issuing 12,000,000 shares at a price of $11.00-$13.00 per share.

In the last twelve months, Altair Engineering generated $319.4 million in revenue and had a net loss of $3.2 million. Altair Engineering has a market cap of $724.7 million.

J.P. Morgan, RBC Capital Markets and Deutsche Bank Securities served as the underwriters for the IPO and William Blair and Canaccord Genuity were co-managers.

Altair Engineering provided the following description of their company for its IPO: “We are a leading provider of enterprise-class engineering software enabling innovation across the entire product lifecycle from concept design to in-service operation. Our simulation-driven approach to innovation is powered by our broad portfolio of high-fidelity and high-performance physics solvers. Our integrated suite of software optimizes design performance across multiple disciplines encompassing structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems, while also providing data analytics and true-to-life visualization and rendering. “.

Altair Engineering was founded in 1985 and has 2000 employees. The company is located at 1820 E. Big Beaver Road, Troy, MI 48083, US and can be reached via phone at (248) 614-2400 or on the web at http://www.altair.com.

Receive News & Ratings for Altair Engineering Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altair Engineering and related companies with MarketBeat.com's FREE daily email newsletter.