Telehealth company, Amwell has priced its upsized IPO of ~41.2M shares of Class A common stock at $18.00/share for total gross proceeds of ~$742M.
Initially, Amwell had planned to sell 35M shares at $14-16.
Underwriters’ over-allotment is an additional ~6.2M shares, from Amwell and certain stockholders of the company.
Trading kicks off September 17. Closing date is September 21.
Utilization of Amwell’s platform to deliver care during the COVID-19 crisis increased dramatically, accounting for 77% of the 2.2M total visits performed during three months ended June 30, 2020, versus 50% of the over 700K visits for the three months ended March 31, 2020.
https://seekingalpha.com/news/3614813-google-backed-amwell-prices-upsized-ipo-above-range-18
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.