KKR-backed OneStream dips after launching stock offering

OneStream

12/11/2024 22:38

** Shares of KKR-backed finance management platform
OneStream  OS.O  fall 2.7% to $32.60 after the bell
    ** OS launches a public offering of 15 mln Class A shares,
with 9 mln shares being offered by selling stockholders while
the remaining 6 mln shares are being offered by OneStream 
    ** Private equity firm KKR, which currently has 51.3% of
voting power, is among the selling stakeholders
    ** Meanwhile, OS is selling shares as part of a so-called
"synthetic secondary" transaction, wherein it will sell new
shares to the public and use the proceeds from that sale to
repurchase its shares from KKR 
    ** Total number of outstanding shares of common stock of
OneStream will remain the same upon the offering's close - OS
    ** Morgan Stanley, J.P. Morgan and KKR are the lead
book-running managers for the proposed offering
    ** OS went public on the Nasdaq in July at a $20 IPO price
    ** Company has about 234.5 mln outstanding shares with a
$8.05 bln market capitalization, according to data compiled by
LSEG
    ** As of the last close, OS stock has jumped ~68% since
debut on July 24

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))