Waystar falls as top shareholders look to cut stake in secondary offering

Waystar Holding

19/02/2025 11:25

** Shares of healthcare payments software provider Waystar
 WAY.O  fall 5.1% to $42.80 premarket
    ** WAY announced late Tuesday a secondary offering of 18
million shares being offered by the co's top shareholders EQT AB
 EQTAB.ST , Canada Pension Plan Investment Board and Bain
Capital
    ** EQT, CPPIB, and Bain will own 23.8%, 18.2%, and 13.7%,
respectively, of WAY stock after the share sale, according to
the offering prospectus 
    ** J.P. Morgan, Goldman Sachs, and Barclays are the joint
lead book-running managers for the proposed offering
    ** WAY stock closed down 0.5% at $45.11 on Tuesday after the
firm reported Q4 results
    ** Co debuted in June in a 45 million share IPO, priced at
$21, one of the largest deals of 2024
    ** WAY has 172.1 million outstanding shares, per SEC filing,
giving it a $7.76 billion market cap as of last close
    ** WAY stock has more than doubled since debut on June 7

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))