Exa Corp. (EXA: Quote) said Wednesday that it has priced its initial public offering of 6.25 million shares of its common stock at a price to the public of $10.00 per share, which is below its estimated range of $11.00 to $13.00 per share.
Of the shares in the offering, 4,166,667 shares are being offered by the company and 2,083,333 shares are being offered by selling shareholders. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 937,500 shares at the initial public offering price to cover over-allotments, if any.
The shares are expected to begin trading on the Nasdaq Global Market on June 28 under the symbol "EXA."
Stifel Nicolaus Weisel is acting as the sole book-running manager for the offering and Robert W. Baird & Co., Canaccord Genuity and Needham & Company are acting as co-managers.
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by RTT Staff Writer
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