Form 4: Lynrock Lake LP, 10% Owner and Director, Boosts Stake in ON24 Inc. with Over 135,000 Share Purchases

Lynrock Lake LP, a significant shareholder and director of ON24 Inc., has increased its beneficial ownership by acquiring an additional 135,667 shares of common stock through a series of open market purchases in early June 2025.

Summary

• Lynrock Lake LP, along with its general partner Lynrock Lake Partners LLC and Chief Investment Officer Cynthia Paul (who is also a Director and 10% owner), reported acquiring 135,667 shares of ON24 Inc. common stock.
• The purchases occurred over three separate transactions: 40,283 shares on June 6, 2025, 47,692 shares on June 9, 2025, and another 47,692 shares on June 10, 2025.
• The shares were acquired at weighted average prices ranging from $5.57 to $5.65 per share.
• These shares are held indirectly by Lynrock Lake Master Fund LP, with Lynrock Lake LP and Lynrock Lake Partners LLC serving as investment manager and general partner, respectively.
• Following these transactions, the indirect beneficial ownership by the fund increased to 8,260,424 shares.
• Additionally, Cynthia Paul directly holds 109,240 shares of ON24 Inc. common stock.
• The total beneficial ownership by the reporting group (Lynrock Lake LP, Lynrock Lake Partners LLC, and Cynthia Paul) now stands at 8,369,664 shares (8,260,424 indirect + 109,240 direct).
• The reporting persons have committed to providing detailed information on specific purchase prices within the reported ranges upon request.

Sentiment

Score: 9

Explanation: The sentiment is highly positive due to substantial insider buying by a major shareholder and director, indicating strong conviction in the company's value and future prospects.

Positives

• Significant insider buying by a 10% owner and director (Lynrock Lake LP and Cynthia Paul) signals strong confidence in ON24 Inc.'s future prospects.
• The acquisition of 135,667 shares demonstrates a material increase in the reporting group's stake, reinforcing alignment with shareholder interests.
• The purchases were made at market prices, indicating a belief that the current valuation represents an attractive entry point.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future financial performance or strategic outlook. It solely reports insider trading activity.

Industry Context

This filing reflects an internal transaction by a significant shareholder and director, rather than a broader industry trend. However, insider buying can be interpreted as a positive signal within the software and virtual events platform industry, suggesting confidence in ON24's competitive position or future growth potential.

Related Party Transactions

• The reported transactions involve the acquisition of common stock by Lynrock Lake LP, Lynrock Lake Partners LLC, and Cynthia Paul, who are identified as a 10% owner and Director of ON24 Inc. These transactions constitute related party dealings as they involve significant shareholders and board members.

Stakeholder Impact

• Shareholders: The increased stake by a major investor and director may instill greater confidence among existing shareholders and attract new investors, potentially leading to positive share price movement.
• Employees: While not directly impacted, a stronger share price and perceived management confidence could indirectly boost employee morale and retention.

Key Dates

Recommendation

Keywords

ON24 Inc., ONTF, Lynrock Lake LP, Cynthia Paul, Insider Buying, Share Purchase, Beneficial Ownership, SEC Form 4, Investment Fund, Director Ownership, 10% Owner