OneStream Inc. (OS) is heading back to private ownership less than a year after its public debut, and shareholders are clearly happy about it. The financial management software company's stock surged Tuesday after announcing it had agreed to be acquired by private equity firm Hg in an all-cash transaction valued at $6.4 billion.

The Deal Structure

Under the agreement, OneStream shareholders will pocket $24 per share in cash. Hg will emerge as the majority voting shareholder, while General Atlantic and Tidemark will stick around as significant minority investors. The transaction is expected to wrap up in the first half of the year.

An entity controlled by Hg will acquire all outstanding shares, including those held by investment funds managed by KKR, the global investment firm that took OneStream public in 2024.

Market Reaction

OS Price Action: Shares were up 28.28% at $23.59 at the time of publication on Wednesday.