Form 4: Bain Capital Entities Reduce Stake in Waystar Holding Corp. Through Public Offering and Charitable Donations

Bain Capital Investors LLC and affiliated entities decreased their holdings in Waystar Holding Corp. through a public offering and distributions related to charitable gifts.

Summary

• Bain Capital Investors LLC, along with affiliated entities including BCPE Derby Investor, LP and BCPE Derby (DE) SPV, LP, filed a Form 4 detailing changes in their beneficial ownership of Waystar Holding Corp. common stock.
• On February 24, 2025, these entities sold 5,652,689 shares of Common Stock through a registered public offering at a price of $38.60 per share (net of underwriting discount).
• Additionally, on the same date, Derby Investor distributed 347,013 shares and Derby SPV Investor distributed 226,179 shares of Common Stock to members or partners in connection with charitable gifts.
• Following these transactions, the Bain Capital Entities continue to hold a significant number of Waystar Holding Corp. shares indirectly.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing transactions. It doesn't inherently convey positive or negative sentiment, but rather reports factual changes in ownership.

Industry Context

Form 4 filings are standard practice when significant shareholders, like Bain Capital, alter their ownership positions in publicly traded companies. This activity is closely watched by investors for insights into the perspectives of major stakeholders.

Stakeholder Impact

• Shareholders may react to the reduced stake by Bain Capital, although the sale was conducted through a public offering, which is generally less disruptive than private sales.
• The charitable donations may have a positive impact on the recipients of those gifts.

Key Dates