Form 4: KKR Affiliates Sell OneStream Shares Following Secondary Offering

KKR affiliates have sold a significant portion of their OneStream Class A common stock following the company's secondary public offering.

Summary

• KKR affiliates have disposed of a large number of OneStream Class A common stock shares.
• The transactions occurred on November 27, 2024, following the company's secondary public offering.
• The sale price was $29.9925 per share, which is the secondary offering price of $31.00 less a $1.0075 underwriting discount.
• The shares were initially acquired through the conversion of Class D common stock and common units.
• The total number of Class A shares sold was 898,957.
• The KKR entities also disposed of 898,957 common units which were converted to Class D common stock and then to Class A common stock.

Sentiment

Score: 5

Explanation: The document reflects a standard transaction following a secondary offering. While the sale by a major shareholder could be seen as slightly negative, it is not unexpected and doesn't indicate a major shift in the company's prospects.

Negatives

• The sale by KKR affiliates could be perceived negatively by the market as a large shareholder reducing their position.

Risks

• The large sale of shares by a major shareholder could put downward pressure on the stock price.
• The market may interpret the sale as a lack of confidence in the company's future prospects by a major investor.

Industry Context

Secondary offerings and subsequent sales by major shareholders are common events in the lifecycle of a public company, particularly after an IPO or significant funding round. This activity is not unusual but can impact market sentiment.

Comparison to Industry Standards

• Sales by major shareholders after a secondary offering are a common occurrence in the tech industry.
• Similar transactions can be seen with other private equity firms after their portfolio companies go public, such as Vista Equity Partners with its various software holdings.
• The size of the sale is significant, but not unusual for a large shareholder following a secondary offering.

Stakeholder Impact

• Shareholders may experience short-term price volatility due to the large sale of shares.
• Employees may be indirectly affected by any changes in the stock price.

Key Dates

Keywords

OneStream, KKR, share sale, secondary offering, Class A common stock, Class D common stock, common units, insider trading, equity