05:56 AM EST, 11/13/2024 (MT Newswires) -- OneStream ( OS ) said late Tuesday it has launched a public offering of 15 million class A shares, of which about 6 million are being offered by the company and about 9 million are being offered by selling stockholders.

Underwriters have been granted a 30-day option to purchase up to about 2.3 million class A common shares.

The company said it will use the proceeds from the offering to repurchase LLC units of OneStream Software LLC from KKR Dream Holdings. Meanwhile, it will not receive proceeds from the sale of shares by the selling stockholders.

Shares of the company declined more than 3% in recent premarket activity Wednesday.

Price: 32.25, Change: -1.25, Percent Change: -3.73