ON24 (ONTF) IPO Opens 54% Higher

Today's IPO for ON24, Inc. (NYSE: ONTF) opened for trading at $77 after pricing 8,560,930 shares of common stock at a price to the public of $50.00 per share.

ON24 is offering 6,315,789 shares of common stock and certain selling stockholders are offering 2,245,141 shares of common stock. In addition, the Company has granted the underwriters a 30-day option to purchase up to 1,284,139 additional shares of common stock at the initial public offering price, less underwriting discounts. ON24 will not receive any proceeds from the sale of the shares by the selling stockholders.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and KeyBanc Capital Markets are acting as lead book-running managers for the offering. Baird, Canaccord Genuity, Needham & Company, Piper Sandler and William Blair are acting as co-managers for the offering.

ON24 provides a leading, cloud-based digital experience platform that enables businesses to convert customer engagement into revenue through interactive webinar experiences, virtual event experiences and multimedia content experiences. The ON24 platform’s portfolio of interactive, personalized and content-rich digital experience products creates and captures actionable, real-time data at scale from millions of professionals every month to provide businesses with buying signals and behavioral insights to efficiently convert prospects into customers.

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