Form 4: ON24 Acquired by Cvent Atlanta in $8.10 Per Share Merger

ON24, Inc. has completed its merger with Cvent Atlanta, LLC, resulting in the cancellation of all outstanding common stock and options for a cash payment of $8.10 per share.

Summary

• ON24, Inc. finalized a merger agreement with Cvent Atlanta, LLC and Summit Sub Corp on April 1, 2026.
• The company now operates as a wholly-owned subsidiary of Cvent Atlanta, LLC.
• All outstanding shares of ON24 common stock were canceled and converted into the right to receive $8.10 per share in cash.
• Outstanding stock options were canceled and converted into the right to receive cash equal to $8.10 minus the respective exercise price per share.
• Reporting person Sharan Sharat disposed of 4,197,237 shares of common stock and various tranches of stock options as part of the transaction.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event for the market, as it marks the successful completion of a previously announced merger and the delisting of the company.

Positives

• Shareholders received a definitive cash exit at $8.10 per share.
• The transaction provides immediate liquidity for equity holders.

Negatives

• The company is no longer a publicly traded entity following the merger.
• Public shareholders no longer have an ownership stake in the ongoing business operations.

Risks

• The company has ceased to be an independent public entity, eliminating future public market upside for current shareholders.

Future Outlook

The company is now a wholly-owned subsidiary of Cvent Atlanta, LLC, and no further public guidance or forward-looking statements will be provided by ON24 as a standalone public entity.

Management Comments

• The transaction was executed pursuant to the Agreement and Plan of Merger dated December 29, 2025.

Industry Context

StockSavvy.ai notes that this acquisition represents a consolidation in the event marketing and webinar software space, as Cvent absorbs a key competitor to bolster its enterprise platform capabilities.

Comparison to Industry Standards

• The take-private transaction follows a trend of consolidation in the SaaS and marketing technology sectors.
• The $8.10 per share valuation reflects the market-clearing price negotiated between the parties in the current M&A environment.

Stakeholder Impact

• Shareholders receive cash proceeds for their holdings.
• Employees may face organizational restructuring as part of the integration into Cvent.

Next Steps

• Final delisting of ONTF from public exchanges.
• Integration of ON24 operations into Cvent Atlanta, LLC.

Key Dates

Keywords

ON24, Merger, Acquisition, Cvent, ONTF, Take-private, SEC Form 4