Tiger Brokers

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

Reuters
May 15
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;))

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