SCHEDULE: ON24 Inc. Merger Completed, Shares Canceled for $8.10 Cash
Merger Completion Filing
ON24 Inc. has completed its merger with Cvent Atlanta, LLC, with shareholders receiving $8.10 per share in cash.
Summary
- This filing reports on the completion of the merger between ON24 Inc. and Cvent Atlanta, LLC, effective April 1, 2026.
- As a result of the merger, each outstanding share of ON24 Inc. common stock was canceled and converted into the right to receive $8.10 in cash per share.
- The reporting persons, Indaba Capital Management, L.P., IC GP, LLC, and Derek C. Schrier, no longer beneficially own any shares of ON24 Inc. common stock as of April 1, 2026.
- The reporting persons collectively owned less than 5% of the outstanding shares prior to the merger's effective time.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this filing as neutral, as it primarily reports on the completion of a merger and the subsequent cancellation of shares for cash, rather than new operational or financial performance data.
Positives
- Shareholders received a cash payout of $8.10 per share upon the completion of the merger.
- The merger provides a definitive exit for shareholders and reporting persons.
Negatives
- Shareholders no longer hold equity in ON24 Inc. and will not participate in future growth.
- The reporting persons have divested their entire stake in the company.
Future Outlook
The filing indicates the completion of the merger and the conversion of ON24 Inc. shares to cash, signifying the end of ON24 Inc. as an independent publicly traded entity. Future outlook is now tied to Cvent Atlanta, LLC.
Industry Context
StockSavvy.ai notes that this Schedule 13D filing marks the conclusion of ON24 Inc.'s journey as a public company, following its acquisition by Cvent Atlanta, LLC. This is a common outcome in the technology sector, where consolidation through mergers and acquisitions is frequent, driven by market competition and the pursuit of scale.
Stakeholder Impact
- Shareholders: Receive $8.10 cash per share, ending their equity ownership in ON24 Inc.
- Reporting Persons (Indaba Capital Management, L.P., IC GP, LLC, Derek C. Schrier): Have fully divested their holdings in ON24 Inc.
- Employees of ON24 Inc.: Will transition to being employees of a subsidiary of Cvent Atlanta, LLC.
- Creditors of ON24 Inc.: Their claims are expected to be honored as part of the merger process, with the surviving entity now owned by Cvent.
Next Steps
- Shareholders to receive $8.10 cash per share.
- ON24 Inc. to operate as a wholly-owned subsidiary of Cvent Atlanta, LLC.
Key Dates
| Date | Description |
|---|---|
| 2022-12-20 | Initial Schedule 13D filing by Indaba Capital Management, L.P., IC GP, LLC, and Derek C. Schrier. |
| 2023-03-13 | Amendment No. 1 to Schedule 13D filed. |
| 2024-01-18 | Amendment No. 2 to Schedule 13D filed. |
| 2024-02-26 | Amendment No. 3 to Schedule 13D filed. |
| 2025-03-19 | Amendment No. 4 to Schedule 13D filed. |
| 2025-12-31 | Amendment No. 5 to Schedule 13D filed. |
| 2025-12-29 | Date of the Agreement and Plan of Merger. |
| 2026-04-01 | Effective date of the Merger; shares canceled and converted to cash. |
| 2026-04-03 | Date of signature for Amendment No. 6 to Schedule 13D. |
Keywords
ON24 Inc., Merger, Cvent Atlanta, LLC, Schedule 13D, Acquisition, SEC Filing, Shareholder Payout
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