Lynrock Lake exits ON24 stake in $8.10 cash merger
ON24 Inc. completed a merger in which each share of its common stock was canceled and converted into the right to receive $8.10 in cash, with similar treatment for RSUs.
Rhea-AI Filing Summary
ON24 Inc. completed a merger in which each share of its common stock was canceled and converted into the right to receive $8.10 in cash, with similar treatment for RSUs. In connection with this transaction, entities associated with Lynrock Lake disposed of their entire ON24 position.
The filing shows a disposition of 141,095 shares of common stock to the issuer at $8.10 per share, and a separate tender-offer disposition of 8,293,974 shares of common stock at the same price held indirectly by a fund. After these transactions, the reporting persons report zero shares owned.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Lynrock Lake LP, LYNROCK LAKE PARTNERS LLC, Paul Cynthia
Role
10% Owner | 10% Owner | Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 141,095 | $8.10 | $1.14M |
| Tender Offer | Common Stock | 8,293,974 | $8.10 | $67.18M |
Holdings After Transaction:
Common Stock — 0 shares (Direct);
Common Stock — 0 shares (Indirect, By Fund)
Footnotes (2)
- F1. Pursuant to the Agreement and Plan of Merger, dated as of December 29, 2025 (the "Merger Agreement") among the Issuer, Cvent Atlanta, LLC ("Parent"), and Summit Sub Corp. ("Merger Sub"), on April 1, 2026, Merger Sub merged with and into the Issuer, with the Issuer continuing as the surviving company and a wholly-owned subsidiary of Parent (the "Merger"). At the effective time of the Merger, each outstanding share of Issuer common stock was automatically canceled and converted into the right to receive cash in an amount equal to $8.10 per share, without interest, with similar treatment for outstanding RSUs.
- F2. Shares are held directly by Lynrock Lake Master Fund LP ("Lynrock Fund"). The investment manager and general partner of Lynrock Fund are Lynrock Lake LP ("Lynrock") and Lynrock Lake Partners LLC ("Lynrock GP"), respectively, and each may be deemed to beneficially own the shares held by Lynrock Fund. Cynthia Paul is the Chief Investment Officer of Lynrock and Sole Member of Lynrock GP and may be deemed to beneficially own the shares held by Lynrock Fund. Each of Lynrock, Lynrock GP and Ms. Paul disclaims beneficial ownership in these shares except to the extent of its or her respective pecuniary interest therein.
Key Figures
Merger cash price: $8.10 per share
Issuer disposition shares: 141,095 shares
Tender-offer shares: 8,293,974 shares
+3 more
6 metrics
Merger cash price
$8.10 per share
Cash consideration for each ON24 common share at merger
Issuer disposition shares
141,095 shares
Common stock disposed to issuer at $8.10 on April 1, 2026
Tender-offer shares
8,293,974 shares
Common stock tender-offer disposition at $8.10 on April 1, 2026
Post-transaction holdings
0 shares
Total shares reported following each disposition
Merger agreement date
December 29, 2025
Date of Agreement and Plan of Merger
Merger effective date
April 1, 2026
Date Merger Sub merged into ON24
Key Terms
Agreement and Plan of Merger, tender offer, beneficially own, pecuniary interest, +1 more
5 terms
Agreement and Plan of Merger regulatory
"Pursuant to the Agreement and Plan of Merger, dated as of December 29, 2025..."
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
tender offer financial
"transaction_action": "tender-offer disposition", "transaction_code_description": "Disposition pursuant to a tender offer""
A tender offer is a proposal made by a person or company to buy shares from existing shareholders at a set price, usually higher than the current market value, within a specific time frame. It matters to investors because it can lead to a change in ownership or control of a company, and shareholders must decide whether to sell their shares at the offered price.
beneficially own financial
"each may be deemed to beneficially own the shares held by Lynrock Fund"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
pecuniary interest financial
"disclaims beneficial ownership in these shares except to the extent of its or her respective pecuniary interest therein"
RSUs financial
"with similar treatment for outstanding RSUs"
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
FAQ
What insider transactions did Lynrock Lake report in ON24 (ONTF)?
Lynrock-related entities reported disposing of all ON24 common stock. One entry shows 141,095 shares returned to the issuer at $8.10 per share, and another shows 8,293,974 shares tendered at $8.10, leaving zero shares reported afterward.
What is a tender-offer disposition in the context of ON24 (ONTF)?
A tender-offer disposition here refers to shares being exchanged for cash as part of the agreed merger. The filing notes a tender-offer disposition of 8,293,974 ON24 common shares at $8.10 per share when the merger closed and the company became a subsidiary of the buyer.
AI-generated analysis. How Rhea-AI works. Not financial advice.
