OneStream, which provides enterprise software for financial management and reporting, raised $490 million by offering 24.5 million shares (26% secondary, 74% synthetic secondary) at $20, above the range of $17 to $19.
OneStream offers a platform that unifies core financial and broader operational data and processes within a single space, with solutions that maintain the integrity of corporate reporting standards for finance while providing operationally significant insights for business users. Its client base includes global enterprises, mid-market organizations, and government entities, and as of March 31, 2024, it had over 1,400 customers across a variety of industries, including industrials, healthcare, and consumer.
OneStream plans to list on the Nasdaq under the symbol OS. Morgan Stanley, J.P. Morgan, KKR, BofA Securities, Citi, Guggenheim Securities, Raymond James, Scotia Capital, Truist Securities, BTIG, Needham & Co., Piper Sandler, TD Cowen, Nomura Securities, and WR Securities acted as joint bookrunners on the deal.
