Waystar Prices Public Offering of Common Stock
Waystar Holding Corp. (Nasdaq: WAY), a leader in healthcare payments software, announced the pricing of its underwritten public offering of 20,000,000 shares of its common stock, offered by certain investment funds of EQT AB, Bain Capital, LP, and Canada Pension Plan Investment Board (CPP Investments), along with their affiliates (collectively referred to as the “Selling Stockholders”). The shares are being offered at a price of $40.00 per share. Additionally, the Selling Stockholders have granted the underwriters a 30-day option to purchase up to 3,000,000 additional shares of common stock.
Importantly, Waystar itself is not selling any shares in this offering and will not receive any proceeds from the sale of shares by the Selling Stockholders. The offering is anticipated to close on or around February 24, 2025, subject to standard closing conditions.
The offering is being managed by a group of underwriters, led by J.P. Morgan, Goldman Sachs & Co. LLC, and Barclays, who are acting as joint lead book-running managers, as well as representatives for the underwriters. Other joint bookrunners for the offering include William Blair, Evercore ISI, BofA Securities, RBC Capital Markets, Jefferies, and Deutsche Bank Securities. Canaccord Genuity and Raymond James are serving as co-managers for the offering.
A registration statement on Form S-1, including a prospectus, relating to the offering has been filed with the Securities and Exchange Commission (SEC) and has been declared effective. This press release is not an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction where the offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that jurisdiction.
The offering will be conducted solely through a prospectus. Copies of the preliminary prospectus can be obtained from J.P. Morgan Securities LLC at Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; Goldman Sachs & Co. LLC at Prospectus Department, 200 West Street, New York, NY 10282, or by calling (866) 471-2526,; or Barclays Capital Inc. at Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by calling (888) 603-5847.
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements reflect Waystar’s current expectations and are inherently subject to various risks, uncertainties, assumptions, or changes in circumstances that may be difficult to predict. The use of terms such as “anticipate,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” and similar phrases identify forward-looking statements.
These statements are based on management’s assumptions and are subject to factors such as the consummation of the offering and other risks described in Waystar’s registration statement on Form S-1 and its Annual Report on Form 10-K for the year ending December 31, 2024, along with subsequent filings with the SEC. Waystar does not assume any obligation to update these forward-looking statements unless required by law.
Waystar’s mission is to simplify healthcare payments, enabling healthcare providers to focus more on patient care while optimizing their financial performance. The company serves over 30,000 clients, including 16 of the top 20 institutions on the U.S. News Best Hospitals Honor Roll. Its enterprise-grade platform processes over 6 billion healthcare payment transactions annually, which accounts for over $1.8 trillion in gross claims across approximately 50% of U.S. patients. Waystar strives to transform healthcare payments by providing providers with the tools they need to prioritize patient care and enhance the financial performance of healthcare organizations.
In summary, the public offering of Waystar’s common stock reflects a significant move by the company to further its growth and financial position. While the company is not selling shares and will not receive any proceeds from the offering, the transaction marks an important moment in Waystar’s continued commitment to providing innovative solutions for the healthcare payments space. Through its extensive platform and continued investment in the healthcare industry, Waystar is focused on improving the healthcare experience for providers and patients alike.
