The Firm represented Bentley Systems, Incorporated (“Bentley”) in connection with its initial public offering of its Class B common stock by certain of its existing stockholders. The shares began trading on the Nasdaq Global Select Market on September 23, 2020, under the ticker symbol “BSY.”
Existing stockholders of Bentley sold an aggregate of 12,360,991 shares of common stock in the offering at an initial public offering price of $22 per share, including 1,610,991 shares of common stock pursuant to the full exercise of the underwriters’ option to purchase additional shares.
Goldman Sachs & Co. LLC and BofA Securities acted as lead book-running managers, and RBC Capital Markets acted as a book-running manager for the offering. Baird, KeyBanc Capital Markets and Mizuho Securities acted as co-managers for the offering.
Bentley 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 Simpson Thacher team included Richard Fenyes, Jonathan Ozner, John O’Connell, Hyo Min Kim, Deul Lim and Hadley Dryland (Capital Markets); Tristan Brown and Jake Phillips (Executive Compensation and Employee Benefits); Shari Ness and James Rapp (Public Company Advisory Practice); Jonathan Cantor and Jasmine Hay (Tax); Genevieve Dorment and Kate Mirino (Intellectual Property); and Mike Isby (Environmental).