08:42 AM EDT, 05/28/2024 (MT Newswires) -- Waystar Holding Corp. (WAY) said Tuesday that it has launched its initial public offering of 45 million shares of its common stock.

The company, which applied to list its shares on the Nasdaq Global Select Market under the symbol "WAY," said it expects to grant the underwriters a 30-day option to buy up to an additional 6,750,000 shares at the IPO price, less the underwriting discount.

The expected IPO price is between $20 and $23 per share.

Waystar said it plans to use the net proceeds from the IPO to repay outstanding indebtedness.