Waystar Announces Pricing of Secondary Offering of Common Stock
Rhea-AI Summary
Waystar (NASDAQ: WAY), a healthcare payments software provider, has announced the pricing of a secondary offering where existing shareholders will sell 18 million shares at $39.40 per share. The selling stockholders include investment funds from EQT AB, Bain Capital, LP, and Canada Pension Plan Investment Board.
The offering is expected to close around September 12, 2025, with J.P. Morgan acting as the underwriter. Importantly, Waystar will not receive any proceeds from this secondary offering as the company is not selling any shares directly.
Positive
- None.
Negative
- Large secondary offering of 18 million shares could create selling pressure
- Significant shareholders reducing their stake might signal reduced confidence
News Market Reaction – WAY
On the day this news was published, WAY declined 5.31%, reflecting a notable negative market reaction. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $396M from the company's valuation, bringing the market cap to $7.06B at that time. Trading volume was very high at 3.6x the daily average, suggesting heavy selling pressure.
Data tracked by StockTitan Argus on the day of publication.
J.P. Morgan is acting as the underwriter for the offering.
A registration statement on Form S-3 relating to these securities has been filed with the SEC and has become effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
The offering may be made only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus may be obtained by contacting: J.P. Morgan Securities LLC, Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. The words "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will," "seek," "foreseeable," the negative version of these words, or similar terms and phrases are intended to identify forward-looking statements. The forward-looking statements contained in this press release are based on management's current expectations and are inherently subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. These risks and uncertainties include, but are not limited to, risks and uncertainties associated with the consummation of the offering and other risks described in Waystar's Annual Report on Form 10-K for the year ended December 31, 2024 and any subsequent filings with the SEC. Except as required by law, Waystar has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations.
About Waystar
Waystar's mission-critical software is purpose-built to simplify healthcare payments so providers can prioritize patient care and optimize their financial performance. Waystar serves approximately 30,000 clients, representing over 1 million distinct providers, including 16 of 20 institutions on the
Media Contact
Kristin Lee
kristin.lee@waystar.com
Investor Contact
investors@waystar.com
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SOURCE Waystar
FAQ
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