OneStream Raises $490 Million in IPO Priced at $20 Per Share, Valued at $4.6 Billion

Jul 24, 2024, 10:43 AM

OneStream, a financial software maker backed by private equity firm KKR, has successfully priced its U.S. initial public offering (IPO) above the indicated range, raising $490 million. The IPO was priced at $20 per share, which is $1 above the marketed range of $17-$19, resulting in a valuation of $4.6 billion. OneStream and a group of shareholders, including KKR, offered 24.5 million shares. The company's stock opened at $26 per share, marking a 30% gain at first trade and a 29% jump in value. OneStream is now trading on the Nasdaq under the ticker symbol $OS. The company, which is based in the Detroit area, specializes in AI-powered financial software and has over 1,400 customers and 1,300 employees as of June 30, 2024. The IPO market is showing signs of a comeback with this successful offering.