BUZZ-KKR-backed OneStream dips after launching stock offering

reuters11-13 06:38
BUZZ-KKR-backed OneStream dips after launching stock offering

** 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;))

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