File Photo: Level III Quote: Definition and How Levels are Used in Stocks
In its U.S. initial public offering, OneStream Software aims to reach a valuation of around $4.38 billion. The private equity firm KKR is supporting the company.
A file made public on Monday revealed that the software company and its selling stockholders intend to sell 24.5 million shares at a price range of $17 to $19 per share in order to generate a maximum of $465.5 million.
Twenty24 has been a promising year for the U.S. initial public offering (IPO) market, with more listings than in previous years. This is likely due to investors’ increasing faith in new offers and their desire to see the economy weather the storm.
In 2021, when OneStream sought investment from firms like Tiger Global Management and D1 Capital Partners, the company was valued at $6 billion; however, the goal valuation for its public float represents a considerable reduction from that.
Founded in 2010, OneStream assists chief financial officers in preparing and reporting financial statements to both investors and regulators. The website boasts that the company also helps businesses with budgeting, planning, and forecasting.
The list of the company’s more than 1400 global customers includes Toyota Motor , UPS , General Dynamics , News Corp and others.
OneStream was valued at over $1 billion when KKR bought a majority share in the company in 2019.
“OS” is the Nasdaq ticker symbol that OneStream plans to utilize to improve its capitalization and financial flexibility with the cash from its first public offering.
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