* Sells 6.25 mln shares at $10 each-underwriter
* Had expected to sell shares at $11-$13 each
June 27 Exa Corp, which makes performance
simulation software for vehicle makers, priced its initial
public offering below its expected range, an underwriter told
The company sold 6.25 mln shares for $10 each, raising $62.5
million in proceeds.
It had expected to sell its shares between $11 and $13 each.
Burlington, Massachusetts-based Exa is one of the first
companies to go public in more than a month after concerns about
Europe's debt crisis and Facebook Inc's botched market
debut froze the U.S. IPO market.
On Wednesday, shares of EQT Midstream Partners LP
rose more than 14 percent in their debut, after it priced its
offering at the top of its indicated price range.
Stifel Nicolaus Weisel, Baird, Canaccord Genuity and Needham
& Company managed the books for Exa's offering.
In fiscal 2012, the company posted net income of $14.5
million on revenue of $45.9 million.
At the IPO price, the company is valued at about $132
The company's shares are expected to begin trading on the
Nasdaq under the symbol "EXA" on Thursday.