OneStream files for IPO, seeks to raise $465M in offering (Pending: OS)

OneStream files for IPO, seeks to raise 5M in offering (Pending: OS) — Daria Ren

Financial software company OneStream Software (OS) has filed for an initial public offering and is seeking to raise more than $465 million in the offering, the company announced Monday.
In the case, OneStream, which is majority-owned by private equity firm KKR (KKR), said it would sell 24.5 million shares at $17 to $19 each. OneStream’s software is used by finance departments and CFOs to prepare financial statements.
The company is expected to list its shares on the Nasdaq and trade under the symbol “OS.”
It generated $480 million in annual recurring revenue as of March 31 and $406 million in revenue for the 12 months ended March 31.
OneStream has 1,423 companies on its customer list, with a gross dollar retention rate of 98% as of March 31.
Alternatives to OneStream software include offerings from IBM (IBM), Workday (WDAY), and Oracle (ORCL).