LEHI, Utah and LOUISVILLE, Ky., Dec. 30, 2024 /ennovaterz/ — 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.
Several factors could cause actual results to differ significantly from forward-looking statements, including our ability to execute business strategies for growth, the heavily regulated nature of our industry, and the uncertain healthcare regulatory and political landscape. Other risks include changes in revenue due to regulatory shifts, legal and regulatory proceedings, compliance with the Bank Secrecy Act and anti-money laundering laws, potential changes in tax rates, restrictive covenants in our credit agreements, interest rate fluctuations, and challenges in obtaining capital. Additional risks include macroeconomic conditions, actions by major investors with differing interests, and other factors outlined in the “Risk Factors” section of our June 7, 2024 prospectus and SEC filings, available on our Investor Relations website.
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.
