DLA Piper advises ON24 in its US$428 million IPO
DLA Piper represented ON24 in its IPO, offering 8,560,930 shares at $50 each, raising approximately $428 million. Of these, 6,315,789 shares are from ON24 and 2,245,141 from selling stockholders. The underwriters also have a 30-day option for 1,284,139 additional shares. ON24 specializes in a cloud-based digital experience platform that enables businesses to enhance customer engagement through webinars and virtual events, capturing actionable data to drive sales.
- Successful IPO raising approximately $428 million.
- Offers a robust cloud-based platform for customer engagement.
- None.
NEW YORK, Feb. 3, 2021 /PRNewswire/ -- DLA Piper represented ON24 Inc. (NYSE: ONTF) in its initial public offering of 8,560,930 shares of common stock at a price to the public of
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, ON24 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 provides a leading cloud-based digital experience platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event and multimedia content experiences. ON24'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.
"We appreciated the opportunity to deliver our extensive capital markets and technology sector experience to help ON24 achieve its goals in this transaction," said Peter Astiz, who led the DLA Piper deal team.
In addition to Astiz (Silicon Valley), the DLA Piper team representing ON24 included partners Andrew Ledbetter (Seattle) and Patrick O'Malley (San Diego), and associates Bianca LaCaille and Logan Weaver (both of Seattle), along with lawyers in privacy, intellectual property, tax and several other practice areas.
DLA Piper's global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.
DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.
About DLA Piper
DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising. dlapiper.com
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SOURCE DLA Piper
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