BUZZ-Waystar dips after top shareholders slice stake in $484 million secondary offering

Reuters
15 May
BUZZ-Waystar dips after top shareholders slice stake in $484 million secondary offering 

** Healthcare payments software provider Waystar's WAY.O shares fall 0.5% to $39.30 premarket

** WAY late Wednesday announced pricing of its secondary offering wherein top shareholders EQT AB, Bain Capital and Canada Pension Plan Investment Board sold 12.5 million shares at $38.75 apiece for gross proceeds of ~$484.4 million

** Offering priced at 1.9% discount to stock's last close

** Stock closed 1% higher on Wednesday, after slipping ~3% on Tuesday when WAY unveiled secondary offering

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

** All 11 brokerages covering stock rate "buy" or higher; median PT $49.50 - data compiled by LSEG

** As of last close, WAY stock up 7.6% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

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

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10