Flash FinanceUS
Market closed S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · Waystar Holding (WAY)

Waystar closes Iodine Software acquisition for cash and 16.6 million shares

Neutral Impact 4 of 5 m&a Written later

Waystar completed its acquisition of Iodine Software on October 1, 2025, paying about $458.6 million in cash and issuing 16,639,906 shares of common stock to Iodine equityholders. The company funded part of the cash payment with $250.0 million of incremental term loans, and it raised its revolving credit facility from $400.0 million to $500.0 million. For shareholders, the deal adds Iodine's client base of more than 1,000 hospitals and health systems, and the company expects it to be accretive to gross margin and adjusted EBITDA margin immediately.

Key points

  • Acquisition of Iodine completed October 1, 2025, under a Merger Agreement dated July 23, 2025.
  • Consideration of about $458.6 million in cash plus 16,639,906 Waystar shares, with each share valued at $37.31 under the Merger Agreement.
  • Amendment No. 12 added $250.0 million of incremental term loans and raised the revolver from $400.0 million to $500.0 million.
  • Lauren Young, a Managing Director at Advent International, was appointed a Class II director, expanding the board from twelve to thirteen members.

The filing

CompanyWaystar Holding (WAY)
Form8-K, current report
Filed with the SECOct 1, 2025, 8:56 AM ET
Accession number0001104659-25-095372

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation3.02 Unregistered Equity Sale5.02 Director / Officer Change7.01 Regulation FD Disclosure8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:05 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 01, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.