Amwell Telehealth Closes Initial Public Offering With $922 Million In Aggregate Gross Proceeds

On September 21, 2020, American Well Corporation (Amwell) announced the close of its upsized initial public offering (IPO), which resulted in approximately $922 million in aggregate gross proceeds to Amwell. There were approximately $31 million in aggregate gross proceeds to the Selling Stockholders, before deducting underwriting discounts and commissions and other expenses.

The IPO consisted of 47,405,555 shares of Class A common stock at an initial offering price of $18.00 per share. This offering includes the full exercise of the underwriters’ option to purchase 6,183,333 additional shares of Class A common stock from Amwell and . . .