HealthStream closes $40M private placement with WJRJJ; CEO sells 144K shares

HEALTHSTREAM INC

Company issued 1,355,932 shares to WJRJJ Ventures at $29.50/share for ~$40M; closed Sept 14, 2026.
CEO Robert Frist sold 144,068 shares to WJRJJ for ~$4.25M; retains ~16.4% stake, remains largest shareholder.
Proceeds for general corporate purposes: investment in solutions, working capital, potential acquisitions.
Investor Willis Johnson (Copart founder) also owns 42% of Empath Nursing; HealthStream holds ~5% stake in Empath.
Registration rights granted for resale; shares issued under Section 4(a)(2) exemption.

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