Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
Altair Engineering Inc., a Delaware corporation (the "Company"), has entered
into a Lender Addition and Acknowledgement Agreement (the "Agreement"), dated as
of November 7, 2022, by and between the Company, J.P. Morgan Chase, N.A. as
administrative agent (the "Administrative Agent"), and Well Fargo Bank, National
Association (the "New Lender"). The Agreement was entered into in accordance
with the terms of the Third Amended and Restated Credit Agreement, as amended,
dated October 18, 2017, by and among the Company, the lenders party thereto, and
the Administrative Agent (the "Credit Agreement").
As previously disclosed, the Credit Agreement provides for an aggregate
revolving commitment amount of $150,000,000. The Credit Agreement also provides
that the Company may increase the aggregate revolving commitment from time to
time by up to $50,000,000 (the "Accordion Feature") in specified ways, including
by having an additional lender provide a new commitment amount, upon the
satisfaction of the terms and conditions set forth in the Credit Agreement.
Pursuant to the terms of the Agreement, the Accordion Feature has been fully
exercised and the New Lender has agreed to provide a commitment amount of
$50,000,000 in accordance with the terms of the Credit Agreement, for an
aggregate revolving commitment of $200,000,000 available to the Company. As of
the date hereof, no amounts are outstanding under the Credit Agreement.
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