Waystar Holding Corp., a leading provider of healthcare payment solutions, has announced the launch of its initial public offering (IPO) of 45,000,000 shares of its common stock. The IPO price is expected to be between $20.00 and $23.00 per share, and the shares are set to begin trading on the Nasdaq Global Select Market under the ticker symbol "WAY" on June 7, 2024. The offering is expected to close on June 6, 2024, subject to customary closing conditions.
Underwriters
The IPO is being led by a group of prestigious underwriters, ensuring a robust and successful launch. The underwriters include:
J.P. Morgan
Goldman Sachs & Co. LLC
Barclays
William Blair
Evercore ISI
BofA Securities
RBC Capital Markets
Deutsche Bank Securities
Canaccord Genuity
Raymond James
The underwriters have been granted a 30-day option to purchase up to an additional 6,750,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. This option provides the underwriters with the flexibility to meet market demand and stabilize the stock price post-IPO.
Details of the Offering
Waystar Holding Corp. has applied to list its common stock on the Nasdaq Global Select Market under the symbol "WAY." The IPO price is anticipated to be between $20.00 and $23.00 per share. This offering includes the sale of 45,000,000 shares, with an additional option for the underwriters to purchase up to 6,750,000 shares.
Cornerstone Investors
Prominent cornerstone investors, including funds and accounts managed by Neuberger Berman Investment Advisers LLC and a subsidiary of Qatar Investment Authority (QIA), have shown interest in purchasing up to $225.0 million in shares at the IPO price. However, this is not a binding commitment, and the actual number of shares purchased may vary.
Company Background
Waystar Holding Corp. is at the forefront of providing innovative healthcare payment solutions. Their comprehensive suite of products and services is designed to simplify and improve the revenue cycle for healthcare providers. Waystar’s solutions help streamline billing, payments, and revenue management processes, ultimately improving financial performance and patient satisfaction for its clients.
With a strong emphasis on technology and customer service, Waystar has positioned itself as a critical partner for healthcare providers looking to enhance their payment systems and operational efficiency. The company’s IPO will provide it with the capital needed to expand its product offerings, reach new markets, and continue its mission of improving healthcare payment systems.
Important Information for Investors
Investors interested in the Waystar Holding Corp. IPO are encouraged to read the prospectus and other documents the company has filed with the U.S. Securities and Exchange Commission (SEC) for more complete information about Waystar Holding Corp. and the offering. These documents may be obtained by contacting the underwriters or visiting the SEC's website.
Contact Information
For further inquiries, please contact:
Waystar Holding Corp. 1550 Digital Drive, #300 Lehi, Utah 84043 (844) 492-9782
Matthew R. A. Heiman Chief Legal & Administrative Officer 888 W. Market Street Louisville, Kentucky 40202 (844) 492-9782
Waystar Holding Corp.'s IPO represents a significant step in its growth journey, providing an opportunity for investors to be part of a leading company in the healthcare payment solutions industry. With a robust underwriter team and interest from cornerstone investors, the IPO is set to pave the way for further innovation and expansion at Waystar.
Investors should consider the potential risks and rewards associated with the IPO, and review the detailed information provided in the company’s prospectus. As Waystar prepares to go public, it stands ready to make a substantial impact on the healthcare sector and deliver value to its shareholders.
For more detailed information, potential investors are advised to consult the official IPO documentation available on the SEC website or contact the underwriters directly.
Frequently Asked Questions (FAQs)
1. What is the IPO price range for Waystar Holding Corp.? The IPO price is expected to be between $20.00 and $23.00 per share.
2. When will Waystar Holding Corp. begin trading? The shares are set to begin trading on the Nasdaq Global Select Market under the ticker symbol "WAY" on June 7, 2024.
3. Who are the underwriters for the IPO? The IPO is being led by J.P. Morgan, Goldman Sachs & Co. LLC, Barclays, William Blair, Evercore ISI, BofA Securities, RBC Capital Markets, Deutsche Bank Securities,
Canaccord Genuity, and Raymond James.
4. What is the purpose of Waystar's IPO? The IPO will provide Waystar with the capital needed to expand its product offerings, reach new markets, and continue its mission of improving healthcare payment systems.
5. How many shares are being offered in the IPO? Waystar is offering 45,000,000 shares of common stock, with an additional option for the underwriters to purchase up to 6,750,000 shares.
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