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Altair Announces Private Placement Financing of $200 Million from Matrix Capital Management Company LP

Altair, a global technology company providing software and cloud solutions in the areas of simulation, high-performance computing, data analytics and artificial intelligence announced a private placement financing of $200 million from Matrix Capital Management Company LP, one of the Company’s largest stockholders, in exchange for 2,935,564 shares of its Class A common stock. Per the terms of the agreement, the shares will be subject to a 1-year lockup period.

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“Matrix has long admired Altair’s innovative technology portfolio and world-class leadership team, and we believe the business is at a critical inflection point,” said David Goel, Managing General Partner of Matrix Capital Management. “As companies around the world exit the pandemic, the pressure on engineering teams to release new products and services has significantly intensified. Altair’s solutions are well positioned and critical to modern product development and innovation. We are excited to partner with Jim Scapa and his team to help support Altair’s next phase of growth.”

“We sincerely appreciate Matrix’s continued commitment to our ongoing success,” said James Scapa, Founder, Chairman and Chief Executive Officer of Altair. “This additional working capital will help us continue delivering outstanding products and services to our customers.”

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The securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended, or any state or other applicable jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws. The Company has agreed to have a registration statement with the U.S. Securities and Exchange Commission registering the resale of the shares of common stock issued in the private placement declared or deemed effective by the SEC no later than the one-year anniversary after the closing of the private placement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offering of the securities under the resale registration statement will only be made by means of a prospectus.

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[To share your insights with us, please write to sghosh@martechseries.com]

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