Benzinga | Sep 23, 2020 05:52AM EDT

Bentley Systems Priced 10.75M Share IPO @$22/Share

Bentley Systems, Incorporated (NASDAQ:BSY) announced the pricing of the initial public offering of 10,750,000 shares of its Class B common stock at a price to the public of $22.00 per share. The shares of Class B common stock to be sold in the offering are being sold by existing stockholders of Bentley. The selling stockholders granted the underwriters in the offering a 30-day option to purchase up to an additional 1,610,991 shares of Class B common stock from the selling stockholders. The shares are expected to begin trading on the Nasdaq Global Select Market on September 23, 2020 under the symbol "BSY". The offering is expected to close on September 25, 2020, subject to customary closing conditions.

Goldman Sachs & Co. LLC and BofA Securities are acting as lead book-running managers and RBC Capital Markets is acting as a book-running manager for the offering. Baird, KeyBanc Capital Markets and Mizuho Securities are acting as co-managers for the offering.