Possible new Waystar Holding shares

WAYDilution

Known so far: no new shares from the prospectus covers read · shelf not limited by the baby-shelf rule · not yet read: warrants, converts, ATM.

Shelf room

  • Room today not capped by the baby-shelf rule ($2.1B float, Jun 30, 2025)
How this is worked out

Shelf room on the S-3ASR of Jul 14, 2025: not limited by the baby-shelf rule, because the $2.1B public float stated as of Jun 30, 2025 is $75M or more. Sources: S-3ASR Jul 14, 2025, effective Jul 14, 2025 · public float, as of Jun 30, 2025.

What could become new Waystar Holding (WAY) shares: options and RSUs, each with the 10-Q, 10-K, S-3 or 424B filing it comes from.

Waystar Holding dilution ladder

Every source of new shares on record, from the filings that created it.

192.4M outstanding; up to 210.9M fully diluted, +10%

  1. Outstandingas of Oct 26, 2026 (10-Q filed Nov 2) · share count on the cover page
    192.4M
  2. Options and RSUs10.4M options, 8.1M RSUs10-Q Nov 2, 2026 · equity note
    +18.5M

Not stated in the filings we read: an ATM program, warrants, convertible notes.

Counts, sizes and prices as stated in each filing; the fully diluted count is arithmetic on them. Dollars become shares only at a price a filing states. Not advice.

Financing terms to know

None found in filings since Nov 2, 2026.

Each term is quoted from the exhibit it comes from; numbers are as stated in the filing. A flag describes a financing term. It is not investment advice.

Shares outstanding

192M

Feb 2025 to Oct 2026: from 172M to 192M.

From the share count on the cover of each 10-Q and 10-K, dated as each cover states.