StockNews.AI
WAY
StockNews.AI
176 days

EQT completes public offering of common stock of Waystar Holding Corp

1. EQT completed an underwritten offering of 23 million Waystar shares. Proceeds totaled USD920 million. 2. EQT sold about 9.8 million shares, realizing roughly USD393 million. They now hold around 38.8 million shares. 3. J.P. Morgan, Goldman Sachs, and Barclays managed the offering process. They ensured broad underwriting coverage. 4. Other stockholders sold the remaining shares. Waystar received no proceeds from these transactions.

3m saved
Insight
Article

FAQ

Why Bearish?

The sale of a large number of shares by institutional investors may increase market supply, leading to short-term downward price pressure similar to past secondary offerings where shareholder sell-offs triggered declines. Historical cases have shown that secondary offerings by insiders can reduce investor confidence and temporarily depress prices.

How important is it?

While the offering is significant and may introduce short-term price weakness, it does not directly alter Waystar's operational fundamentals or capital base. The liquidity event is important for market sentiment but its overall long-term impact on WAY is moderate.

Why Short Term?

The excess supply in the market will likely cause short-term volatility until investor sentiment stabilizes, as seen in similar events. Fundamentals remain intact, suggesting minimal long-term effects.

Related Companies

JPMGSBARC
NEW YORK, Feb. 24, 2025 /PRNewswire/ -- An affiliate of the fund known as EQT VIII ("EQT") is pleased to announce the completion of an underwritten public offering (the "Offering") of 23 million shares of common stock of Waystar Holding Corp. (NASDAQ: WAY) (the "Company") ("Shares") for aggregate gross proceeds of USD920 million. As part of the Offering, EQT sold c. 9.8 million Shares (and now holds c. 38.8 million Shares) and received gross proceeds of c. USD393 million. The remaining Shares sold in the Offering were sold by other stockholders of the Company. J.P. Morgan, Goldman Sachs & Co. LLC and Barclays acted as joint book-running managers of the Offering, which was completed on February 24, 2025, and as representatives of the several underwriters. The Company did not sell any Shares in the Offering and did not receive any proceeds from the sale of the Shares sold by EQT and the other stockholders. Contact EQT Press Office, [email protected] This information was brought to you by Cision http://news.cision.com https://news.cision.com/eqt/r/eqt-completes-public-offering-of-common-stock-of-waystar-holding-corp-,c4110431 The following files are available for download: https://mb.cision.com/Main/87/4110431/3282585.pdf Press Release, EQT VIII, Waystar, 24022025 SOURCE EQT

Related News