Lynrock Lake LP 4

What Happened Lynrock Lake LP, listed as a 10% owner of ON24 Inc. (ONTF), disposed of 8,435,069 shares in connection with ON24’s merger. Two dispositions occurred on April 1, 2026: 8,293,974 shares were reported as a disposition in change of control (U) at $8.10 per share ($67,181,189), and 141,095 shares were reported as a disposition to the issuer (D) at $8.10 per share ($1,142,870). Total cash received was $68,324,059. Per the Merger Agreement, each outstanding ON24 share (and similar RSUs) was canceled and converted into the right to receive $8.10 in cash.

Key Details

• Transaction date: April 1, 2026. Filing date: April 2, 2026 (timely).
• Prices and amounts: 8,293,974 shares @ $8.10 = $67,181,189 (code U); 141,095 shares @ $8.10 = $1,142,870 (code D). Total: 8,435,069 shares for $68,324,059.
• Shares owned after transaction: effectively zero for converted common shares (all outstanding shares were canceled at closing of the merger).
• Footnotes: F1 — merger effective Apr 1, 2026; cash-out at $8.10 per share for common stock and RSUs. F2 — shares held by Lynrock Lake Master Fund LP; Lynrock Lake LP (investment manager), Lynrock Lake Partners LLC (GP), and Cynthia Paul (CIO/sole member of GP) may be deemed beneficial owners but disclaim ownership except for pecuniary interest.
• Transaction codes explained: U = disposition in change of control (merger cash-out); D = disposition to issuer.

Context This was not an open-market sale but a mandatory cash conversion of outstanding shares under the Merger Agreement (a change-of-control transaction). As a 10% institutional owner, Lynrock’s filing reflects the deal terms rather than an individual trading decision; purchases are typically more informative about insider sentiment than merger cash-outs.