Form 4: KKR Affiliates Sell OneStream Shares Following Secondary Offering

KKR and its affiliates have sold a significant portion of their OneStream holdings following the company's secondary public offering.

Summary

• KKR TFO Partners L.P. and related entities have reported the sale of 898,957 common units of OneStream Software LLC, which are exchangeable for Class D common stock, and subsequently Class A common stock of OneStream, Inc.
• The transactions occurred on November 26th and 27th, 2024, with the sale of common units on November 27th at a price of $29.9925 per unit.
• Prior to the sale, KKR entities acquired various amounts of Class A common stock through the conversion of Class D common stock on November 26th.
• The Class D common stock is convertible into Class A common stock on a one-for-one basis, and will automatically convert on the seventh anniversary of the company's IPO.
• The sale of common units was part of a secondary offering where OneStream purchased units from certain equity holders.
• The secondary offering price for Class A Common Stock was $31.00 per share, less an underwriting discount of $1.0075 per share.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing transactions, and does not contain any positive or negative sentiment. It is a neutral report of share sales.

Industry Context

This transaction is typical for private equity firms like KKR following a company's IPO and secondary offering, as they often monetize their investments after a certain period.

Comparison to Industry Standards

• Secondary offerings are a common mechanism for early investors to reduce their holdings after a company goes public.
• The sale price of $29.9925 per unit reflects a discount to the secondary offering price of $31.00, which is typical in such transactions.
• KKR's actions are similar to other private equity firms that have taken companies public and subsequently sold down their stakes.

Stakeholder Impact

• The sale of shares by KKR may have a minor impact on the share price of OneStream, but is not expected to have a significant long-term effect.
• The transaction provides liquidity for KKR and its investors.

Key Dates

Keywords

OneStream, KKR, secondary offering, common units, Class A common stock, Class D common stock, equity sale, investment