OneStream Inc. Announces Public Offering of Class A Shares

OneStream Inc. has priced a public offering of 15 million shares at $31.00 each, with significant stockholder involvement. This strategic move, along with a potential 30-day option for additional shares, is set to close on November 18, 2024, marking a significant corporate financing approach.

Date: 15-11-2024

AI Rating: 6

OneStream Inc. has announced a public offering of 15 million shares of its Class A common stock, priced at $31.00 per share. This offering consists of 9.01 million shares to be sold by selling stockholders and 5.99 million shares from OneStream itself.

The notable aspect of this offering is that the sale includes a non-dilutive "synthetic secondary" transaction. This means that while new capital is being raised, the existing shareholder's ownership percentage will not be diluted as the shares sold are from current stockholders.

The underwriters have a 30-day option to buy up to an additional 2.25 million shares at the public offering price, which can lead to a further capital influx if exercised. The offering is expected to close on November 18, 2024.

It is important to note that OneStream will not receive any proceeds from the sale of the shares being sold by the selling stockholders. However, the net proceeds from its own shares will be used to purchase LLC units of OneStream Software LLC from KKR Dream Holdings LLC at the same price as the public offering amount, which adds an interesting dimension to their capital structure.

Stocks: OS