KKR entities restructure OneStream (OS) stake as merger pays $24 cash
Rhea-AI Filing Summary
OneStream, Inc. reported a series of restructuring transactions tied to its merger with Onward AcquireCo Inc. and related entities. On April 1, 2026, merger subsidiaries combined with OneStream and its operating LLC, leaving OneStream as a subsidiary of the new parent company.
Immediately before the merger’s effective time, each share of Class D Common Stock was cancelled and converted into the right to receive $24.00 in cash per share, less applicable withholding taxes. Each Common Unit, which paired an LLC unit with a share of Class C Common Stock, was cancelled and converted into cash equal to the same per share price, while each related Class C share received $0.0001 in cash.
The filing covers internal reorganization transactions coded as “J” for other acquisition or disposition, totaling 94,520,232 derivative-type securities. The positions shown are held indirectly through various KKR-related investment vehicles, and the reporting persons disclaim beneficial ownership beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class D Common Stock | 26,227,899 | $0.00 | -- |
| Other | Class D Common Stock | 3,261,412 | $0.00 | -- |
| Other | Class D Common Stock | 86,801 | $0.00 | -- |
| Other | Class D Common Stock | 2,197,087 | $0.00 | -- |
| Other | Class D Common Stock | 1,560,909 | $0.00 | -- |
| Other | Class D Common Stock | 757,590 | $0.00 | -- |
| Other | Class D Common Stock | 5,303,124 | $0.00 | -- |
| Other | Class D Common Stock | 7,125,659 | $0.00 | -- |
| Other | Class D Common Stock | 1,067,910 | $0.00 | -- |
| Other | Class D Common Stock | 1,136,425 | $0.00 | -- |
| Other | Common Units | 45,795,416 | $0.00 | -- |
Footnotes (1)
- Pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated January 6, 2026, by and among OneStream, Inc. ("Issuer"), OneStream Software LLC, a subsidiary of Issuer ("Company LLC"), Onward AcquireCo Inc. ("Parent"), Onward Merger Sub 2, LLC ( "Merger Sub I") and Onward Merger Sub, Inc. ("Merger Sub II"), on April 1, 2026, Merger Sub 1 merged with and into Company LLC (the "First Merger"), with Company LLC surviving the First Merger and becoming a subsidiary of Parent, and Merger Sub II merged with and into Issuer (the "Second Merger" and together with the First Merger, the "Mergers"), with Issuer surviving the Second Merger and becoming a subsidiary of Parent. Pursuant to the Merger Agreement, immediately before the effective time of the Mergers (the "Effective Time"), each share of Class D Common Stock of the Issuer was cancelled and converted into the right to receive $24.00 per share in cash (the "Per Share Price") without interest, less applicable withholding taxes. Common Units represented limited liability company units of Company LLC and an equal number of shares of Class C Common Stock of the Issuer. Common Units were redeemable by the holder at any time on or following the closing of the Issuer's initial public offering for shares of Class D Common Stock of the Issuer on a one-for-one basis, and a corresponding number of shares of Class C Common Stock would be forfeited in connection with the redemption. At the Effective Time, each Common Unit was cancelled and converted into the right to receive an amount in cash, without interest, equal to the Per Share Price. Each corresponding share of Class C Common Stock was cancelled and converted into the right to receive $0.0001 in cash, without interest. Represents securities held by KKR Dream Holdings LLC. KKR Dream Aggregator L.P. is the sole member of KKR Dream Holdings LLC. KKR Dream Aggregator GP LLC is the general partner of KKR Dream Aggregator L.P. KKR Americas Fund XII (Dream) L.P. is the sole member of KKR Dream Aggregator GP LLC. Represents securities held by KKR Americas XII (Dream) Blocker Parent L.P. Represents securities held by KKR Americas XII EEA (Dream) Blocker Parent L.P. Represents securities held by KKR Americas XII (Dream II) Blocker Parent L.P. KKR Associates Americas XII AIV L.P. is the general partner of each of KKR Americas Fund XII (Dream) L.P., KKR Americas XII (Dream) Blocker Parent L.P., KKR Americas XII EEA (Dream) Blocker Parent L.P., and KKR Americas XII (Dream II) Blocker Parent L.P. KKR Americas XII AIV GP LLC is the general partner of KKR Associates Americas XII AIV L.P. Represents securities held by KKR Wolverine I Ltd. KKR Financial Management LLC is the portfolio manager of KKR Wolverine I Ltd. Kohlberg Kravis Roberts & Co. L.P. is the sole member of KKR Financial Management LLC. KKR & Co. GP LLC is the general partner of Kohlberg Kravis Roberts & Co. L.P. KKR Holdco LLC is the sole member of KKR & Co. GP LLC. Represents securities held by KKR TFO Partners L.P. KKR Associates TFO L.P. is the general partner of KKR TFO Partners L.P. KKR TFO GP Limited is the general partner of KKR Associates TFO L.P. Represents securities held by KKR Custom Equity Opportunities Fund L.P. KKR Associates Custom Equity Opportunities L.P. is the general partner of KKR Custom Equity Opportunities Fund L.P. KKR Custom Equity Opportunities Limited is the general partner of KKR Associates Custom Equity Opportunities L.P. Represents securities held by KKR-Milton Strategic Partners L.P. KKR Associates Milton Strategic L.P. is the general partner of KKR-Milton Strategic Partners L.P. KKR Milton Strategic Limited is the general partner of KKR Associates Milton Strategic L.P. Represents securities held by KKR NGT (Dream) Blocker Parent L.P. Represents securities held by KKR NGT (Dream) Blocker Parent (EEA) L.P. KKR Associates NGT L.P. is the general partner of KKR NGT (Dream) Blocker Parent L.P. and KKR NGT (Dream) Blocker Parent (EEA) L.P. KKR Next Gen Tech Growth Limited is the general partner of KKR Associates NGT L.P. Represents securities held by K-PRIME AG Financing LP. K-PRIME Hedge-Finance GP Limited is the general partner of K-PRIME AG Financing LP. K-PRIME Aggregator L.P. is the sole shareholder of K-PRIME Hedge-Finance GP Limited. K-Series PE Holdings L.P. is the general partner of K-PRIME Aggregator L.P. K-Series PE GP LLC is the general partner of K-Series PE Holdings L.P. KKR Associates Group L.P. is the sole member of K-Series PE GP LLC. KKR Associates Group GP LLC is the general partner of KKR Associates Group L.P. KKR Group Partnership L.P. is the sole member of each of KKR Americas XII AIV GP LLC, KKR Holdco LLC, and KKR Associates Group GP LLC and sole shareholder of each of KKR TFO GP Limited, KKR Custom Equity Opportunities Limited, KKR Milton Strategic Limited and KKR Next Gen Tech Growth Limited. KKR Group Holdings Corp. is the general partner of KKR Group Partnership L.P. KKR Group Co. Inc. is the sole shareholder of KKR Group Holdings Corp. KKR & Co. Inc. is the sole shareholder of KKR Group Co. Inc. KKR Management LLP is the Series I preferred stockholder of KKR & Co. Inc. Messrs. Henry R. Kravis and George R. Roberts are the founding partners of KKR Management LLP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein. The filing of this statement shall not be deemed to be an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, the Reporting Persons were the beneficial owners of any securities reported herein.