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BUZZ-Waystar ticks lower as top shareholders slice stake in upsized secondary offering

Reuters
Feb 21, 2025
BUZZ-Waystar ticks lower as top shareholders slice stake in upsized secondary offering

** Shares of healthcare payments software provider Waystar WAY.O down 0.8% at $40.68 premarket

** WAY on Thursday announced pricing of its upsized secondary offering of 20 million shares by co's top shareholders EQT AB EQTAB.ST, Canada Pension Plan Investment Board and Bain Capital

** Offering boosted from initially announced size of 18 million shares and priced at $40/shr, a 2.4% discount to stock's last close

** J.P. Morgan, Goldman Sachs and Barclays were joint lead book-running managers for the offering

** WAY stock closed down 6.5% at $41 on Thursday, giving it a $7.1 billion market cap, according to data compiled by LSEG

** Co went public in June after 45 million share IPO was priced at $21

** WAY stock up 11.7% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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