Waystar Announces Proposed Public Offering of Common Stock
Waystar Holding Corp. (Nasdaq: WAY), a healthcare payments software provider, announced a proposed public offering of 12,500,000 shares of common stock by its major shareholders EQT AB, Bain Capital, LP, and Canada Pension Plan Investment Board. The Selling Stockholders will also grant underwriters a 30-day option to purchase up to 1,875,000 additional shares.
The offering will be led by J.P. Morgan, Goldman Sachs & Co. LLC, and Barclays as joint lead book-running managers. Importantly, Waystar itself is not selling any shares and will not receive any proceeds from the offering. The sale is subject to SEC registration statement effectiveness and other regulatory requirements.
Waystar Holding Corp. (Nasdaq: WAY), fornitore di software per pagamenti nel settore sanitario, ha annunciato un'offerta pubblica proposta di 12.500.000 azioni ordinarie da parte dei suoi principali azionisti EQT AB, Bain Capital, LP e Canada Pension Plan Investment Board. Gli azionisti venditori concederanno inoltre agli intermediari un'opzione di 30 giorni per acquistare fino a 1.875.000 azioni aggiuntive.
L'offerta sarà guidata da J.P. Morgan, Goldman Sachs & Co. LLC e Barclays come joint lead book-running manager. È importante sottolineare che Waystar stessa non venderà azioni e non riceverà alcun ricavo dall'offerta. La vendita è soggetta all'efficacia della dichiarazione di registrazione presso la SEC e ad altri requisiti normativi.
Waystar Holding Corp. (Nasdaq: WAY), proveedor de software para pagos en el sector salud, anunció una oferta pública propuesta de 12,500,000 acciones ordinarias por parte de sus principales accionistas EQT AB, Bain Capital, LP y Canada Pension Plan Investment Board. Los accionistas vendedores también otorgarán a los suscriptores una opción de 30 días para comprar hasta 1,875,000 acciones adicionales.
La oferta estará liderada por J.P. Morgan, Goldman Sachs & Co. LLC y Barclays como gestores conjuntos principales. Es importante destacar que Waystar no venderá ninguna acción ni recibirá ingresos de la oferta. La venta está sujeta a la efectividad del registro ante la SEC y otros requisitos regulatorios.
Waystar Holding Corp. (Nasdaq: WAY)는 헬스케어 결제 소프트웨어 제공업체로, 주요 주주인 EQT AB, Bain Capital, LP, 그리고 Canada Pension Plan Investment Board가 12,500,000주의 보통주 공개 매각을 제안했다고 발표했습니다. 매도 주주들은 또한 인수인들에게 30일간 1,875,000주 추가 매입 옵션을 부여할 예정입니다.
이번 공모는 J.P. Morgan, Goldman Sachs & Co. LLC, Barclays가 공동 대표 주관사로 이끌 예정입니다. 중요한 점은 Waystar 자체는 주식을 매도하지 않으며, 이번 공모로부터 어떠한 수익도 얻지 않는다는 것입니다. 이 매각은 SEC 등록 서류의 효력 발생 및 기타 규제 요건을 충족해야 합니다.
Waystar Holding Corp. (Nasdaq : WAY), fournisseur de logiciels de paiement dans le secteur de la santé, a annoncé une offre publique proposée de 12 500 000 actions ordinaires par ses principaux actionnaires EQT AB, Bain Capital, LP et Canada Pension Plan Investment Board. Les actionnaires vendeurs accorderont également aux souscripteurs une option de 30 jours pour acheter jusqu'à 1 875 000 actions supplémentaires.
L'offre sera dirigée par J.P. Morgan, Goldman Sachs & Co. LLC et Barclays en tant que chefs de file conjoints. Il est important de noter que Waystar ne vendra aucune action et ne recevra aucun produit de cette offre. La vente est soumise à l'efficacité de la déclaration d'enregistrement auprès de la SEC et à d'autres exigences réglementaires.
Waystar Holding Corp. (Nasdaq: WAY), ein Anbieter von Software für Gesundheitszahlungen, gab eine geplante öffentliche Platzierung von 12.500.000 Stammaktien durch seine Hauptaktionäre EQT AB, Bain Capital, LP und Canada Pension Plan Investment Board bekannt. Die verkaufenden Aktionäre gewähren den Underwritern zudem eine 30-tägige Option zum Kauf von bis zu 1.875.000 zusätzlichen Aktien.
Die Platzierung wird von J.P. Morgan, Goldman Sachs & Co. LLC und Barclays als gemeinsame Hauptbuchführer geleitet. Wichtig ist, dass Waystar selbst keine Aktien verkauft und keine Erlöse aus der Platzierung erhält. Der Verkauf unterliegt der Wirksamkeit der Registrierungserklärung bei der SEC sowie weiteren regulatorischen Anforderungen.
- None.
- Major shareholders (EQT AB, Bain Capital, CPP Investments) selling significant stake (12.5M shares) could signal reduced confidence
- Additional dilution potential of 1.875M shares through underwriters' option
- No proceeds will benefit the company as shares are being sold by existing stockholders
Insights
Selling shareholders are offloading 12.5M Waystar shares in a secondary offering that could signal profit-taking by private equity investors.
This secondary offering represents a significant sell-down by Waystar's private equity backers. EQT AB, Bain Capital, and CPP Investments are collectively offering
The involvement of major investment banks (J.P. Morgan, Goldman Sachs, and Barclays) as joint lead book-runners suggests this is a substantial transaction. For context, secondary offerings often signal that major investors believe the current share price presents an attractive exit opportunity.
For current shareholders, this transaction introduces important considerations:
- The offering likely introduces substantial new share supply that could pressure stock price in the near term
- The selling shareholders are sophisticated private equity firms choosing to reduce positions
- No new capital is being raised to fund growth initiatives or strengthen Waystar's balance sheet
This transaction appears to be part of the typical private equity lifecycle, where investors begin monetizing their positions following an IPO. While not necessarily negative for Waystar's operational outlook, the significant insider selling could raise questions about how these sophisticated investors view Waystar's current valuation relative to future growth prospects.
The offering is being made through an underwriting group led by J.P. Morgan, Goldman Sachs & Co. LLC, and Barclays, who are acting as joint lead book-running managers.
A registration statement on Form S-1, including a prospectus, which is preliminary and subject to completion, relating to these securities has been filed with the Securities and Exchange Commission (the "SEC") but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes 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 proposed offering may be made only by means of a prospectus. Copies of the preliminary prospectus may be obtained by contacting: J.P. Morgan Securities LLC, 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 proposed offering and other risks described in Waystar's registration statement on Form S-1, as it may be amended from time to time, and its 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
Sandy Draper
investors@waystar.com
502-238-9511
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SOURCE Waystar
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