EXA, a provider of performance simulation software for vehicle manufacturers, filed on Wednesday with the SEC to raise up to $86 million in an initial public offering. The Burlington, MA-based company, which was founded in 1991 and booked $40 million in sales for the 12 months ended April 30, 2011, plans to list on the NASDAQ under the symbol EXA. Stifel Nicolaus is the lead underwriter on the deal. No pricing terms were disclosed.
