Decision Street, LLC completed the acquisition of ON24, Inc. from Lynrock Lake Master Fund LP managed by Lynrock Lake LP, Indaba Capital Management, L.P, BlackRock, Inc. and others.
Decision Street, LLC entered into a definitive agreement to acquire ON24, Inc. (NYSE:ONTF) from Lynrock Lake Master Fund LP managed by Lynrock Lake LP, Indaba Capital Management, L.P, BlackRock, Inc. (NYSE:BLK) and others for approximately $350 million on December 29, 2025. The transaction has been funded through equity financing. As a part of consideration ON24 shareholders will receive $8.10 per share in cash. In case of termination ON24, Inc will pay $12.02 and Decision Street, LLC will pay $22.05 million.
The proposed transaction, has been unanimously approved by the ON24 Board of Directors, is expected to close in the first half of 2026, subject to approval by ON24 shareholders, the satisfaction of regulatory approvals, HSR act approval, approval by the board of directors of Decision Street, LLC, Minimum Cash Condition and other customary closing conditions. Upon completion of the transaction, ON24?s common stock will no longer be publicly listed, and ON24 will become a privately held company. As of February 13, 2026, ON24, Inc. received notice from the United States Federal Trade Commission of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Act of 1976 in connection with the previously announced acquisition. As on March 26, 2026, the shareholders of ON24, Inc have approved the merger and the merger is expected to complete on April 1, 2026.
Goldman Sachs & Co. LLC acted as financial advisor,fairness opinion provider for ON24, Inc. Andrew Ledbetter and Eric H. Wang of DLA Piper LLP acted as legal advisor for ON24, Inc. William Blair & Company, L.L.C. acted as financial advisor for Decision Street, LLC. The team of Simpson Thacher & Bartlett LLP led by William Allen, Elizabeth Cooper, Malik Ladhani, Greg Grogan, Ashlie Lawton, Jonathan Goldstein, Edward Grais, Caroline Geiger and Krista McManus acted as legal advisor for Cvent Holding Corp. Okapi Partners, LLC acted as information agent for ON24, Inc. Equiniti Trust Company, LLC acted as transfer agent for ON24, Inc.
Decision Street, LLC completed the acquisition of ON24, Inc. (NYSE:ONTF) from Lynrock Lake Master Fund LP managed by Lynrock Lake LP, Indaba Capital Management, L.P, BlackRock, Inc. (NYSE:BLK) and others on April 1, 2026.
BlackRock, Inc. is an investment management company. The Company provides a range of investment management and technology and subscription services to institutional and retail clients. Its diverse platforms of alpha-seeking active, private markets, index and cash management investment strategies across asset classes enable it to tailor investment outcomes and asset allocation solutions for clients. Its product offerings include single- and multi-asset portfolios investing in equities, fixed income, alternatives, and money market instruments. Its products are offered directly and through intermediaries in a range of vehicles, including open-end and closed-end mutual funds, iShares exchange-traded funds, separate accounts, collective investment funds and other pooled investment vehicles. It also offers technology services, including the investment and risk management technology platform, Aladdin, Aladdin Wealth, eFront, and Cachematrix, as well as advisory services and solutions.
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Decision Street, LLC completed the acquisition of ON24, Inc. from Lynrock Lake Master Fund LP managed by Lynrock Lake LP, Indaba Capital Management, L.P, BlackRock, Inc. and others.
