Enhancements expected to boost flexibility and
lower borrowing costs
LEHI,
Utah and LOUISVILLE,
Ky., Dec. 30, 2024 /PRNewswire/ -- Waystar
Holding Corp. (Nasdaq: WAY), a provider of leading healthcare
payment software, today announced an amendment to its first lien
credit agreement (the "amended credit agreement") with its lenders.
The amendment reprices Waystar's term loan and increases its
revolving credit facility.
Under the amended agreement, the term loan will now carry a
reduced interest rate of adjusted SOFR +2.25%, down from the
previous interest rate of adjusted SOFR +2.75%. In addition,
Waystar will increase its revolving credit facility borrowing
capacity to $400 million, up from
$342.5 million, and lower the
interest rate to adjusted SOFR +1.75%, compared to the previous
interest rate of adjusted SOFR +2.25%. These changes are expected
to reduce borrowing costs and generate interest expense savings for
the company.
The amendments follow Waystar's successful initial public
offering on June 7, 2024, with net
proceeds used to reduce debt, as well as an earlier loan repricing
on June 27, 2024.
Additional details about the amended credit agreement are
available in Waystar's Current Report on Form 8-K, filed with
the Securities and Exchange Commission on December
30, 2024. The filing is available on the investor relations page of
Waystar's website at investors.waystar.com.
Forward-Looking Statements
This press release contains
forward-looking statements, within the meaning of the Private
Securities Litigation Reform Act of 1995, that reflect our current
views with respect to, among other things, future borrowing costs,
interest expense savings, and the impact of the amended credit
agreement. Forward-looking statements include all statements that
are not historical facts. These statements may include words such
as "believe," "could," "expect," "may," "potential," "predict,"
"project," "future," "will," the negative version of these words or
similar terms and phrases to identify forward-looking statements in
this press release.
The forward-looking statements contained in this press release
are based on management's current expectations and are not
guarantees of future performance. The forward-looking statements
are subject to various risks, uncertainties, assumptions, or
changes in circumstances that are difficult to predict or quantify.
Our expectations, beliefs, and projections are expressed in good
faith, and we believe there is a reasonable basis for them.
However, there can be no assurance that management's expectations,
beliefs, and projections will result or be achieved. The following
factors are among those that may cause actual results to differ
materially from the forward-looking statements: our ability to
successfully execute on our business strategies in order to grow;
the heavily regulated industry in which we conduct business; the
uncertain and evolving healthcare regulatory and political
framework; reduced revenues in response to changes to the
healthcare regulatory landscape; legal, regulatory, and other
proceedings that could result in adverse outcomes; contractual
obligations requiring compliance with certain provisions of the
Bank Secrecy Act and anti-money laundering laws and regulations;
any changes in our tax rates, the adoption of new tax legislation,
or exposure to additional tax liabilities; restrictive covenants in
the agreements governing our credit facilities; interest rate
fluctuations; unavailability of additional capital on acceptable
terms or at all; the impact of general macroeconomic conditions;
actions of certain of our significant investors, who may have
different interests than the interests of other holders of our
securities; and each of the other factors discussed under the
heading of "Risk Factors" in the Company's prospectus filed with
the Securities and Exchange Commission (the "SEC") on June 7,
2024 and in other reports filed with the SEC, all of which are
available on the Investor Relations page of our website at
investors.waystar.com.
Any forward-looking statements made by us in this press release
speak only as of the date of this press release and are expressly
qualified in their entirety by the cautionary statements included
in this press release. Factors or events that could cause our
actual results to differ may emerge from time to time, and it is
not possible for us to predict all of them. You should not place
undue reliance on our forward-looking statements. We undertake no
obligation to publicly update or review any forward-looking
statement, whether as a result of new information, future
developments, or otherwise, except as may be required by any
applicable securities laws.
About Waystar
Waystar's mission-critical software is
purpose-built to simplify healthcare payments so providers can
prioritize patient care and optimize their financial performance.
Waystar serves approximately 30,000 clients, representing over 1
million distinct providers, including 16 of 20 institutions on the
U.S. News Best Hospitals Honor Roll. Waystar's enterprise-grade
platform annually processes over 5 billion healthcare payment
transactions, including over $1.2
trillion in annual gross claims and spanning approximately
50% of U.S. patients. Waystar strives to transform healthcare
payments so providers can focus on what matters most: their
patients and communities. Discover the way forward
at waystar.com.
Investor Contact
Sandy
Draper
investors@waystar.com
Media Contact
Kristin Lee
kristin.lee@waystar.com
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SOURCE Waystar