Waystar Shares Fall After Largest US IPO of 2024

Healthcare payment software firm's stock drops below IPO price on Nasdaq debut, raising $968 million.

Waystar's shares declined by up to 4.7%, opening at $21 each, below the IPO price of $21.50.
The IPO raised $968 million, giving Waystar a market valuation of approximately $3.5 billion.
The company plans to use the proceeds to repay debt and invest in growth and innovation.
Waystar utilizes AI to streamline healthcare revenue cycles, aiming for significant market growth.
Despite the dip, the IPO marks a notable return of tech listings after a two-year slump.