The Amwell (NYSE:AMWL) IPO is underway for the telemedicine company based out of Boston.
Here’s what potential investors need to know about the Amwell IPO.
- The IPO started today and will last until Sept. 21.
- The company is listing its shares under the “AMWL” stock ticker on the New York Stock Exchange.
- The IPO has the company offering 41,222,222 shares of Class A stock for a price of $18 per share.
- That’s above its previously expected IPO pricing range of $14 per share to $16 per share.
- Amwell is expecting the IPO to generate total gross proceeds of about $742 million.
- The company’s IPO also includes a 30-day option for underwriters to purchase an additional 6,183,333 shares of AMWL stock.
- That could have it gaining an additional $111.3 million is underwriters exercise those rights.
- The lead joint book-running managers for the Amwell IPO are Morgan Stanley, Goldman Sachs, and Piper Sandler.
- UBS Investment Bank, Credit Suisse, Cowen and Berenberg are serving as bookrunners for the IPO.
- Amwell’s services allow patients to connect with members of the medical community without having to leave their homes.
- That’s an important factor to consider with the novel coronavirus forcing many people to remain indoors these last few months.
- The company currently has 80 million members that are covered to use its services.
- It’s also or more than 50 healthcare plans and has partnerships with many major healthcare providers.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.