OneStream (OS) Skyrockets 28% on $6.4-Billion Merger With Hg

We recently published 10 Stocks With Eye-Popping Double-Digit Gains; 4 Hit All-Time Highs. OneStream, Inc. (NASDAQ:OS) was one of the top performers on Tuesday.

OneStream extended gains for a second day on Tuesday, soaring 28.38 percent to finish at $23.61 apiece as investors gobbled up shares following news that it was set to be acquired by Hg for $6.4 billion.

In a statement on the same day, OneStream, Inc. (NASDAQ:OS) said that it has entered into a definitive agreement with Hg—a leading investor in software, services and data businesses—for the acquisition of all its issued and outstanding shares at a price of $24 apiece, marking a 31 percent premium over its closing price prior to the announcement.

Photo from OneStream website

The transaction, which will be entirely paid in cash, will be executed through an entity owned and controlled by Hg.

The transaction is expected to close in the first half of the year, subject to regulatory approvals, including its shareholders.

“The Office of the CFO is at a critical AI inflection point, and we believe OneStream is well positioned for this shift. As we build on our strong foundation of growth, we are thrilled to partner with the teams at Hg, General Atlantic and Tidemark. Through this partnership, we are able to significantly advance our AI-first go-to-market strategy and expand our Finance AI capabilities at a rapid pace,” said OneStream, Inc. (NASDAQ:OS) CEO Tom Shea.

“This transaction delivers immediate value to our shareholders and is a vote of confidence in our strategy, our talented employees and our partner ecosystem. We look forward to having the ability to move faster, think bigger and deliver more for our forward-thinking Finance customers,” he added.

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Disclosure: None. This article is originally published at Insider Monkey.