secwatch.observer — SEC 8-K summary
======================================

Issuer:     Waystar Holding Corp. (WAY)
CIK:        0001990354
Form:       8-K
Filed at:   2025-10-01T23:59:59+00:00
Accession:  0001104659-25-095372
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1990354/000110465925095372/0001104659-25-095372-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1990354/000110465925095372/tm2527690d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-095372

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer