WAY News

US IPO Market Slowly Climbs to a Two-Year High IPO activity hit a two-year high in the second quarter of 2024 but still came in below expectations, with 39 IPOs raising a combined $8.9 billion as investors continued to warm up to new issuers while remaining disciplined on valuations. A diverse group of 20 companies...read more

Five IPOs debuted this week, and raised over $1.3 billion in proceeds. One SPAC also listed. One name that did not join the fray was aluminum company Novelis (NVL), which called off its planned $878 million IPO at the eleventh-hour. Three IPOs and four SPACs submitted initial filings this past week. Hospital billing platform Waystar (WAY)...read more

Waystar Holding, which provides cloud-based revenue management software for the healthcare industry, raised $968 million by offering 45 million shares at $21.50, the midpoint of the range of $20 to $23. New investors Neuberger Berman and QIA had indicated on $225mm of the IPO (23% of the deal). At pricing, Waystar commands a fully diluted market value of $3.7 billion. Waystar...read more

Updated Monday, 6/3. Five listings are currently scheduled for the week ahead, although smaller issuers may join the calendar throughout the week. Hospital billing platform Waystar (WAY) plans to raise $968 million at a $3.7 billion market cap. Waystar provides cloud payments software payments for healthcare providers. The company currently serves...read more