Amwell announces launch of IPO
Boston-based telehealth company Amwell announced it has commenced the roadshow for its proposed initial public offering. Amwell has filed a registration statement with the Securities and Exchange Commission (“SEC”) to offer 35,000,000 shares of its Class A common stock to the public. Amwell and certain selling stockholders (the “Selling Stockholders”) intend to grant the underwriters a 30-day option to purchase up to 5,250,000 additional shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $14.00 and $16.00 per share pricing the IPO between $490 million and $560 million.
Amwell has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol “AMWL.”
Founded in 2006, Amwell powers telehealth solutions for over 130 health systems comprised of 2,000 hospitals and 55 health plan partners with over 7,000 employers, covering over 150 million lives. Amwell also has an affiliated, physician-owned and operated medical practice that provides telehealth care exclusively on Amwell platforms.
The company is a team of over 530 employees. It has secured over $810 million in financing across 9 rounds and is backed by Allianz X and Anthem; to name two.