hanibaram/iStock via Getty Images Health-care payments software firm Waystar Holding Corp ( WAY ) priced its initial public offering at the midpoint of an expected range and raised $968 million. Waystar ( WAY ) sold 45 million shares for $21.50 each after last Tuesday, announcing a range of $20 to $23 a share, according to a statement on Thursday.
Waystar granted the underwriters a 30-day option to purchase up to an additional 6.75 million shares at the IPO price. The shares are expected to begin trading on The Nasdaq on Friday under the symbol "WAY.
" Waystar intends to use the net proceeds from the offering to repay outstanding indebtedness. At $968 million, the Waystar IPO is the biggest by a U.S.
company this year, according to Reuters. Waystar is expected to have a market cap of about $3.6 billion based on its shares outstanding.
JPMorgan, Goldman Sachs and Barclays are acting as joint lead book-running managers of the offering. More on Waystar Holding Corp. Waystar considers pricing IPO around mid-range - reports IPO roundup: Novelis, Waystar Holding, and more Financial information for Waystar Holding Corp.
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