Five things to understand:.
Amwell announced its IPO Aug. 24, in addition to a brand-new collaboration with Google Cloud. Designating the Boston-based telehealth company is its favored virtual care platform partner, Google is also investing $100 million in Amwell to help scale up its telehealth offerings for companies, insurers and clients..
Jackie Drees –
Wednesday, September 9th, 2020
Amwell on Sept. 8 submitted a registration statement with the U.S. Securities and Exchange Commission for its proposed going public, which it priced in between $490 million and $560 million..
1. Under the filing, Amwell plans to provide 35 million shares of its Class A typical stock to the public..
2. The IPO price is expected to be between $14 and $16 per share, which translates to about $490 million to $560 million in gross earnings..
3. Amwell has actually also tapped Morgan Stanley, Goldman Sachs and Piper Sandler as leading joint book-running managers for the proposed offering..
4. Googles investment in Amwell will be at the same purchase cost offered to the public and is contingent upon the closing of the companys IPO..
5. The businesss year-over-year revenue increased 77 percent in the first 6 months of 2020 to more than $122 million, according to The Motley Fool. Amwell supplies telehealth services for more than 2,000 hospitals and 55 health insurance partners.
The companys year-over-year revenue increased 77 percent in the first 6 months of fiscal year 2020 to more than $122 million, according to The Motley Fool. Amwell provides telehealth solutions for more than 2,000 hospitals and 55 health plan partners.
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