OneStream (OS.US), a financial software provider, priced its IPO at $17-19 per share, planning to raise $441 million.
1min read OneStream (OS.US), a company based in Birmingham, Michigan, that provides enterprise software for financial and operational management, announced its IPO terms on Monday. The company plans to price its 2,450,000 shares at between $17 and $19 per share, raising $441 million. Some of the underwriters plan to buy 15% of the shares in the offering. At the midpoint of the proposed price range, OneStream's fully diluted market capitalization would be $4.4 billion.
OneStream provides a platform that unifies core financial and more broad operational data and processes in one space, and its solutions can maintain the integrity of the company's financial reporting standards while providing important operational insights to business users. Its customer base includes global enterprises, mid-market organizations, and government entities, and it has 1,400 customers across various industries (including industrial, healthcare, and consumer) as of March 31, 2024.
OneStream was founded in 2012 and had revenue of $406 million in the 12 months ending March 31, 2024. The company plans to list on the Nasdaq under the symbol OS. The joint lead underwriters for the transaction are Morgan Stanley, J.P. Morgan, KKR, BofA Securities, Citigroup, Guggenheim Securities, Raymond James, Fidelity Investments, Stifel, Needham & Co., Piper Sandler, TD Cowen, Nomura Securities, and WR Securities. The company is expected to price in the week of July 22, 2024.
