SCHEDULE 13D/A: Lynrock Lake LP Boosts Stake in ON24 Inc. to 18.4%

Major institutional investor Lynrock Lake LP and its affiliates have significantly increased their beneficial ownership in ON24 Inc. through recent open market purchases, now holding 18.4% of the company's common stock.

Summary

• This document is Amendment No. 4 to the Schedule 13D originally filed on February 14, 2023, by Lynrock Lake LP, Lynrock Lake Partners LLC, and Cynthia Paul regarding their beneficial ownership in ON24 INC.
• Lynrock Lake Master Fund LP purchased 24,576 shares of ON24 common stock on May 12, 2025, at a weighted-average price of $5.16 per share (ranging from $4.97 to $5.24).
• An additional 24,576 shares were purchased by Lynrock Lake Master Fund LP on May 13, 2025, at a weighted-average price of $5.39 per share (ranging from $5.23 to $5.49).
• A further 24,576 shares were acquired by Lynrock Lake Master Fund LP on May 14, 2025, at a weighted-average price of $5.37 per share (ranging from $5.26 to $5.42).
• All share purchases were funded by the working capital of Lynrock Lake Master Fund LP.
• As of the filing, Lynrock Lake LP and Lynrock Lake Partners LLC beneficially own 7,733,202 shares of ON24 common stock, representing 18.2% of the class.
• Cynthia Paul beneficially owns 7,823,277 shares, representing 18.4% of the class, which includes 59,877 shares held directly and 30,198 shares issuable upon settlement of restricted stock units within 60 days.
• The beneficial ownership percentages are calculated based on 42,475,166 shares of ON24's common stock outstanding as of May 1, 2025, as reported in the Issuer's Form 10-Q filed on May 8, 2025.

Sentiment

Score: 7

Explanation: The increased stake by a significant institutional investor like Lynrock Lake LP suggests a vote of confidence in ON24's future prospects, which is generally a positive signal for the market.

Positives

• The increased stake by Lynrock Lake LP, a significant institutional investor, may signal confidence in ON24's current valuation and future prospects.
• The continued accumulation of shares by a major shareholder can be interpreted as a positive endorsement of the company's strategy or underlying value.

Future Outlook

The document does not contain any forward-looking statements or guidance from ON24 management or the reporting persons regarding the company's future performance or strategic direction.

Industry Context

This filing reflects an investment firm's increased stake in ON24, a company operating in the virtual events and webinar platform industry. While it indicates the investor's view on ON24's value, it does not provide broader insights into industry trends or competitive landscape.

Stakeholder Impact

• Shareholders may view the increased stake by a major institutional investor as a positive indicator of confidence in the company's value and future performance, potentially leading to increased investor interest.

Key Dates

Keywords

ON24, Lynrock Lake LP, Schedule 13D, Beneficial Ownership, Common Stock, Investment, Shareholder, SEC Filing, Institutional Investor