Waystar drops after launching secondary offering by top holders
ReutersSep 10, 2025 9:25 PM
Shares of healthcare payments software provider Waystar WAY.O down 4.5% at $38.67 in extended trading after secondary offering news
Utah-headquartered Waystar says Swedish private equity firm EQT AB EQTAB.SB, Bain Capital and Canada Pension Plan Investment Board (CPPIB) to offload 18 mln shares
JP Morgan is the underwriter for the offering
Prior to the offering, EQT owns ~32.65 mln shares, CPPIB has ~24.96 mln shares and Bain holds ~18.06 mln shares, per LSEG data
Waystar has ~174.2 mln shares outstanding for about $7 bln market cap
WAY shares on Weds ended down 1% at $40.50, cutting YTD gain to 10.4%
Co debuted in Jun 2024 after 45 mln share IPO priced at $21.50
All 15 analysts covering the stock are bullish and median PT is $50, per LSEG
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