OneStream launches roadshow for proposed IPO of 24.5M class A shares

OneStream (OS) announced that it has launched the roadshow for its proposed initial public offering of 24,500,000 shares of its Class A common stock, 18,054,333 shares of which are being offered by OneStream and 6,445,667 shares of which are being offered by certain existing stockholders. In addition, OneStream intends to grant the underwriters a 30-day option to purchase up to an additional 3,675,000 shares of Class A common stock from OneStream at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $17.00 and $19.00 per share. OneStream intends to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “OS.” OneStream intends to use a portion of the net proceeds to it from this offering to purchase newly issued common units of OneStream Software LLC, of which OneStream will be the sole manager. OneStream intends to use the remaining net proceeds to purchase common units of OneStream Software LLC and shares of Class C common stock from certain of its existing stockholders in a synthetic secondary transaction at a purchase price per unit equal to the initial public offering price per share of Class A common stock, net of underwriting discounts and commissions. OneStream will not receive any proceeds from the sale of shares by the selling stockholders. Morgan Stanley (MS), J.P. Morgan (JPM) and KKR (KR) are acting as lead book-running managers for the proposed offering. BofA Securities, Citigroup and Guggenheim Securities are acting as book-running managers and Raymond James, Scotiabank, Truist Securities, BTIG, Needham & Company, Piper Sandler, TD Cowen and Wolfe Nomura Alliance are acting as additional book-running managers. Amerivet Securities, Blaylock Van, LLC, Cabrera Capital Markets LLC, Drexel Hamilton and Loop Capital Markets are acting as co-managers for the proposed offering.