Bentley Systems Announces Launch of Public Offering of Common Stock
November 10 2020 - 5:29PM
Business Wire
Bentley Systems, Incorporated (Nasdaq: BSY) (“Bentley”), the
infrastructure engineering software company, today announced the
launch of the public offering of 10,000,000 shares of its Class B
common stock, consisting of 8,103,965 shares to be issued and sold
by Bentley and 1,896,035 shares to be sold by existing stockholders
of Bentley. Bentley expects to grant the underwriters in the
offering a 30-day option to purchase from Bentley up to an
additional 1,500,000 shares of Class B common stock. The offering
is subject to market conditions, and there can be no assurance as
to whether or when the offering may be completed or as to the
actual size or terms of the offering.
Bentley intends to use the net proceeds from the sale of its
shares in the offering to repay existing indebtedness under its
credit facilities. Bentley will not receive any proceeds from the
sale of shares by the selling stockholders.
Goldman Sachs & Co. LLC and BofA Securities are acting as
lead book-running managers and RBC Capital Markets, Baird and
KeyBanc Capital Markets are also acting as joint book-running
managers for the proposed offering. Mizuho Securities is acting as
a co-manager for the proposed offering.
A registration statement on Form S-1 relating to the proposed
offering has been filed with the SEC but has not yet become
effective. These securities may not be sold nor may offers to buy
be accepted prior to the time the registration statement becomes
effective. This press release does not constitute an offer to sell
or the solicitation of an offer to buy any securities, and shall
not constitute an offer, solicitation, or sale in any jurisdiction
in which such offer, solicitation, or sale would be unlawful prior
to registration or qualification under the securities laws of that
jurisdiction. Any offers, solicitations or offers to buy, or any
sales of securities will be made in accordance with the
registration requirements of the Securities Act of 1933, as
amended.
The proposed offering will be made only by means of a
prospectus. Copies of the preliminary prospectus related to the
offering may be obtained by contacting Goldman Sachs & Co. LLC,
Attention: Prospectus Department at 200 West Street, New York, New
York 10282, by telephone at 1-866-471-2526 or by e-mail at
prospectus-ny@ny.email.gs.com, or BofA Securities, Attn: Prospectus
Department, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte, North Carolina 28255-0001, by email at
dg.prospectus_requests@bofa.com.
About Bentley Systems
Bentley Systems is the infrastructure engineering software
company. We provide innovative software to advance the world’s
infrastructure – sustaining both the global economy and
environment. Our industry-leading software solutions are used by
professionals, and organizations of every size, for the design,
construction, and operations of roads and bridges, rail and
transit, water and wastewater, public works and utilities,
buildings and campuses, and industrial facilities. Our offerings
include MicroStation-based applications for modeling and
simulation, ProjectWise for project delivery, AssetWise for asset
and network performance, and the iTwin platform for infrastructure
digital twins. Bentley Systems employs more than 4,000 colleagues
and generates annual revenues of more than $700 million, in 172
countries.
Forward Looking Statements
This press release contains forward-looking statements.
Forward-looking statements include all statements that are not
historical facts. The words “believe,” “may,” “will,” “estimate,”
“continue,” “anticipate,” “intend,” “expect” and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements include statements relating to,
among other things, risks and uncertainties related to market
conditions, the risk that the proposed public offering will not be
consummated on the terms or in the amounts contemplated or
otherwise, and the satisfaction of customary closing conditions
related to the proposed public offering. These forward-looking
statements are subject to a number of risks, uncertainties and
assumptions, including those described under the “Risk Factors”
section of Bentley’s registration statement relating to the
offering. Except as required by law, Bentley has no obligation to
update any of these forward-looking statements to conform these
statements to actual results or revised expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20201110006245/en/
James McCusker 203-585-4750 jmccusker@soleburytrout.com
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