Deal Details

Bentley Completes $271.9 Million Initial Public Offering

Technology & Services

Bentley initial public offering

Summary

Bentley Systems, Inc. (“Bentley” or the “Company”) (NASDAQ: BSY), recently completed an initial public offering of 10,750,000 Class B common stock, including the exercise in full of the underwriters' option to purchase 1,610,991 additional shares of common stock at a price of $22.00 per share, generating gross proceeds of approximately $271.9 million. The Company intends to use the net proceeds from the offering to repay selling shareholders.

Baird served as a co-manager on this offering.

About

Bentley Systems, Inc., is a leading global provider of software for infrastructure engineering, enabling the work of civil, structural, geotechnical, and plant engineering practitioners, their project delivery enterprises, and owner-operators of infrastructure assets. The Company was founded in 1984 by the Bentley brothers. Bentley’s commitment is to develop and support the most comprehensive portfolio of integrated software offerings across professional disciplines, project and asset lifecycles, infrastructure sectors, and geographies. The Company’s software enables digital workflows across engineering disciplines, distributed project teams, from offices to the field, and across computing form factors, including desktops, on-premises servers, cloud-native services, mobile devices, and web browsers. Bentley is headquartered in Exton, Pennsylvania.

Technology & Services

Bentley initial public offering