Benzinga | Feb 3, 2021 09:11AM EST

ON24 Prices IPO At $50, Raises $316M

* Cloud computing platform maker ON24, Inc. (NYSE: ONTF) has priced 8.56 million shares at $50 per share in an initial public offering (IPO), collecting gross proceeds of $315.7 million.

* The IPO included 2.24 million offered by the existing shareholders.

* The underwriters have a 30-day option to procure up to 1.28 million additional shares at the IPO price.

* The shares are estimated to begin trading on the NYSE under the ticker symbol "ONTF" from February 3, 2021.

* The IPO is to close on February 5, 2021, subject to conditions.

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