Amwell ups IPO price in NYSE debut, to hit $742M: 5 details

Amwell upsized the cost of its going public for Sept. 17 in its launching on the New York Stock Exchange.
4 things to know:
1. Amwell priced 41.2 million shares of its Class A typical stock at $18 per share. The total profits of the IPO are expected to hit $742 million before deducting underwriting discount rates and commissions and offering expenses.
2. The price is up from the $14 to $16 per share expectations in Amwells statement to the U.S. Securities and Exchange Commission filed Sept. 8, which would have priced the IPO in between $490 million and $560 million.
3. The general public offering is expected to close Sept. 21, and the underwriters have a 30-day alternative to acquire around 6 million extra shares of Class A common stock at the preliminary IPO rate, less underwriting discounts and commissions.
4. Morgan Stanley, Goldman Sachs & & Co. and Piper Sandler are the lead joint book-running managers for the offering.
5. Amwell announced its IPO Aug. 24 in conjunction with a Google Cloud collaboration. Google invested $100 million in the business to assist scale telehealth for insurers, companies and patients.
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Amwell priced 41.2 million shares of its Class A typical stock at $18 per share. The overall profits of the IPO are anticipated to hit $742 million before subtracting underwriting discounts and commissions and offering expenditures.
Amwell revealed its IPO Aug. 24 in conjunction with a Google Cloud partnership.

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