---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-095372"
form_type: "8-K"
ticker: "WAY"
cik: "0001990354"
company_name: "Waystar Holding Corp."
filed_at: "2025-10-01T23:59:59+00:00"
generated_at: "2026-05-17T05:09:13.686607+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Waystar closes Iodine acquisition for ~$459M cash + 16.6M shares; debt amended

## Summary
- Acquisition completed Oct 1, 2025; total consideration ~$458.6M cash plus 16.64M shares valued at $37.31/share.
- Combined company unites financial and clinical AI; expands TAM by >15% with Iodine's 1,000+ hospital clients.
- Waystar expects immediate accretion to gross margin and adjusted EBITDA margin; revenue and non-GAAP EPS accretive in 2027.
- Credit facility amended: $250M incremental term loans, revolver increased to $500M, interest rates reduced.
- Board expanded to 13; Lauren Young (Advent MD) appointed as Class II director.

## SEC filing metadata
- accession: 0001104659-25-095372
- form_type: 8-K
- ticker: WAY
- cik: 0001990354
- company_name: Waystar Holding Corp.
- filed_at: 2025-10-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1990354/000110465925095372/0001104659-25-095372-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1990354/000110465925095372/tm2527690d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-095372
- JSON: https://secwatch.observer/filing/0001104659-25-095372.json
- Plain text: https://secwatch.observer/filing/0001104659-25-095372.txt

## Key facts
- Debt Financings
  Waystar Holding Corp. amended revolving credit of from $400.0 million to $500.0 million with JPMorgan Chase Bank, N.A. at Adjusted Term SOFR (as defined in the Credit Agreement), plus an initial applica.
  - Instrument: revolving credit
  - Principal: from $400.0 million to $500.0 million
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Rate: Adjusted Term SOFR (as defined in the Credit Agreement), plus an initial applica
  - Event: amendment
  source text: the maximum borrowing capacity under the revolving credit facility under the Credit Agreement (the "Revolving Credit Facility"), was increased from $400.0 million to $500.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1990354/000110465925095372/0001104659-25-095372-index.htm
- Debt Financings
  Waystar Holding Corp. incurred term loan of $250.0 million with JPMorgan Chase Bank, N.A..
  - Instrument: term loan
  - Principal: $250.0 million
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Event: incurrence
  source text: the Borrower incurred incremental term loans in an aggregate principal amount of $250.0 million (the "Incremental Term Loans")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1990354/000110465925095372/0001104659-25-095372-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.