Waystar Holding Announces IPO, Plans To Raise About $1 Billion
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Key TakeawaysWaystar Holding said it would be going public with an initial public offering of 45 million shares, raising approximately $1 billion.The healthcare payments software firm explained it plans to the shares for between $20 and $23 each, and they would trade on the Nasdaq under the ticker symbol "WAY."Waystar noted that the money raised in the IPO would be used to pay off outstanding debt.
Healthcare payments software provider Waystar Holding on Tuesday announced plans to raise about $1 billion in an initial public offering (IPO).The company said it plans to sell 45 million shares of common stock, with underwriters given a 30-day option to purchase another 6.75 million.Waystar anticipates the price to be between $20 and $23 per share. It said the money raised in the sale would go toward repaying outstanding debt.5B+ Healthcare Payments Transactions in 2023In its prospectus, the company explained that it had $791 million in revenue in 2023, with more than 30,000 clients and more than five billion annual healthcare payments transactions.Waystar was formed in 2017 by current Chief Executive Officer (CEO) Matthew Hawkins.The company noted that it will list the stock on the Nasdaq under the ticker symbol “WAY.” Read the original article on Investopedia.
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