Exa Corporation announces terms for IPO
Exa Corporation, which provides performance simulation software for vehicle manufacturers, announced terms for its IPO on Monday. The Burlington, MA-based company plans to raise $75 million by offering 6.3 million shares (33% insider) at a price range of $11.00 to $13.00. Exa Corporation, which was founded in 1991 and booked $47 million in sales for the 12 months ended 4/30/2012, plans to list on the NASDAQ under the symbol EXA. Stifel Nicolaus Weisel is the lead bookrunner on the deal.