The IPO registration statement is for 11.3 million shares of its Class A common stock, and the selling stockholders plan to grant underwriters a 30-day option to purchase up to 1.7 million additional shares of Class A common stock at the public offering price, less underwriting discounts and commissions.
In September 2020, Amwell upsized the price of its IPO to 41.2 million shares of its Class A common stock at $18 per share. The telehealth company at that time said the total proceeds of the IPO are expected to hit $742 million before deducting underwriting discounts, commissions and offering expenses.
Morgan Stanley, Goldman Sachs & Co. and Piper Sandler are the lead joint book-running managers for the offering.
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