OneStream Plans $465.5 Million IPO Amidst Recovery in U.S. Market
OneStream, a cloud-based enterprise finance platform based in Michigan, is gearing up for an initial public offering (IPO) to raise $465.5 million. The company, along with its shareholders including investment group KKR, plans to offer 24.5 million shares at a price range of $17 to $19 each.
This move comes at a time when the IPO market in the United States is experiencing a period of recovery, with IPOs on the U.S. markets raising over $21 billion in the first six months of the year, a significant increase compared to the same period last year.
Other companies in the financial technology sector are also considering going public, such as the investing and checking accounts app Acorns, which has nearly 6 million subscribers. Acorns CEO Noah Kerner mentioned that an IPO is likely in the company’s future.
On the other hand, some companies like StubHub have delayed their IPO plans, while Swedish FinTech company Trustly is not considering going public yet, despite showing strong financials. Trustly CEO Johan Tjarnberg stated that they need more time to demonstrate the strength of their business model to investors before considering a public listing.
Overall, the IPO market is showing signs of growth and recovery, with companies in various industries exploring opportunities to go public and raise capital.
