Form 4: KKR Entities Report Ownership Changes in OneStream, Inc.

Several KKR-affiliated entities have reported changes in their beneficial ownership of OneStream, Inc. securities following a merger transaction.

Summary

• This filing details changes in beneficial ownership for various KKR entities related to OneStream, Inc. (OS).
• The transactions stem from an Agreement and Plan of Merger dated January 6, 2026, involving OneStream, Inc., its subsidiary, and acquiring entities.
• On April 1, 2026, a merger occurred where Class D Common Stock of OneStream, Inc. was cancelled and converted into the right to receive $24.00 per share in cash.
• Common Units of the subsidiary, OneStream Software LLC, were also cancelled and converted into cash payments of $24.00 per unit.
• Corresponding Class C Common Stock was cancelled and converted into $0.0001 per share in cash.
• Multiple KKR entities, including KKR Dream Holdings LLC, KKR Dream Aggregator L.P., and various KKR Americas Funds, are listed as reporting persons.
• These entities collectively hold a significant number of Class D Common Stock and Common Units, now converted to cash.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it reports on a completed transaction and cash conversion rather than ongoing operational performance or future strategic initiatives.

Positives

• The transaction provides a cash exit for holders of Class D Common Stock and Common Units at $24.00 per share/unit.
• The merger was completed, indicating a resolution to the acquisition process.

Negatives

• All reported Class D Common Stock and Common Units were converted to cash, meaning no ongoing equity ownership for these specific holdings.
• Class C Common Stock received a nominal cash amount of $0.0001 per share.

Risks

• The filing does not explicitly mention any ongoing risks or future challenges related to the transaction itself, as it primarily reports on a completed merger and cash conversion.

Future Outlook

The filing primarily reports on a completed transaction and does not contain forward-looking statements or guidance regarding future operations of OneStream, Inc. post-merger.

Industry Context

StockSavvy.ai notes that this Form 4 filing by KKR entities signifies the completion of a significant private equity transaction, likely a take-private deal or a major acquisition, which is a common strategy in the software and technology sectors where consolidation is frequent.

Stakeholder Impact

• Shareholders of Class D Common Stock and holders of Common Units received $24.00 per share/unit in cash, representing a realization of their investment.
• Holders of Class C Common Stock received a nominal cash amount.
• The transaction signifies a change in control for OneStream, Inc., impacting its future strategic direction under new ownership.

Next Steps

• The KKR entities have completed their divestment of the specified OneStream, Inc. securities through the merger.
• OneStream, Inc. has transitioned to being a subsidiary of Parent following the merger.

Key Dates

Keywords

Form 4, SEC Filing, KKR, OneStream Inc., Merger, Beneficial Ownership, Class D Common Stock, Common Units, Cash Conversion, Acquisition