EQT completes public offering of common stock of Waystar Holding Corp

Rhea-AI Summary

EQT has completed an underwritten public offering of 23 million shares of Waystar Holding Corp (NASDAQ: WAY) common stock, generating total gross proceeds of USD920 million. As part of the offering, EQT sold approximately 9.8 million shares, receiving gross proceeds of about USD393 million, and now holds approximately 38.8 million shares. The remaining shares were sold by other Waystar stockholders.

The offering was managed by J.P. Morgan, Goldman Sachs & Co. , and Barclays as joint book-running managers. Notably, Waystar did not sell any shares in the offering and received no proceeds from the sale of shares by EQT and other stockholders.

Positive

• None.

Negative

• Large secondary offering of 23M shares could create selling pressure
• Company received no proceeds from the offering
• Significant insider selling by major shareholder EQT

News Market Reaction – WAY

-0.71%

-0.71% Session move

In the trading session that priced this news, WAY declined 0.71%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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• The offering resulted in aggregate gross proceeds of USD920 million, of which EQT received c. USD393 million

NEW YORK, Feb. 24, 2025 /PRNewswire/ -- An affiliate of the fund known as EQT VIII ("EQT") is pleased to announce the completion of an underwritten public offering (the "Offering") of 23 million shares of common stock of Waystar Holding Corp. (NASDAQ: WAY) (the "Company") ("Shares") for aggregate gross proceeds of USD920 million. As part of the Offering, EQT sold c. 9.8 million Shares (and now holds c. 38.8 million Shares) and received gross proceeds of c. USD393 million. The remaining Shares sold in the Offering were sold by other stockholders of the Company. J.P. Morgan, Goldman Sachs & Co. LLC and Barclays acted as joint book-running managers of the Offering, which was completed on February 24, 2025, and as representatives of the several underwriters. The Company did not sell any Shares in the Offering and did not receive any proceeds from the sale of the Shares sold by EQT and the other stockholders.

Contact

EQT Press Office, press@eqtpartners.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/eqt/r/eqt-completes-public-offering-of-common-stock-of-waystar-holding-corp-,c4110431

The following files are available for download:

https://mb.cision.com/Main/87/4110431/3282585.pdf

Press Release, EQT VIII, Waystar, 24022025

View original content:https://www.prnewswire.com/news-releases/eqt-completes-public-offering-of-common-stock-of-waystar-holding-corp-302383893.html

SOURCE EQT

FAQ

How many shares were sold in the Waystar (WAY) February 2025 public offering?

A total of 23 million shares of Waystar Holding Corp (WAY) were sold in the February 2025 public offering.

How much did EQT receive from selling Waystar (WAY) shares in February 2025?

EQT received approximately USD393 million in gross proceeds from selling 9.8 million shares of Waystar (WAY).

How many Waystar (WAY) shares does EQT still hold after the February 2025 offering?

After the February 2025 offering, EQT holds approximately 38.8 million shares of Waystar (WAY).

Did Waystar (WAY) receive any proceeds from the February 2025 stock offering?

No, Waystar (WAY) did not sell any shares in the offering and did not receive any proceeds from the sale of shares by EQT and other stockholders.