Amwell (AMWL) Prices 41.22M Share Upsized IPO at $18/Sh

Amwell® (NYSE: AMWL), a national telehealth leader, today announced the pricing of its upsized initial public offering of 41,222,222 shares of its Class A common stock at an initial public offering price of $18.00 per share for total gross proceeds of approximately $742 million, before deducting underwriting discounts and commissions and offering expenses payable by Amwell. In addition, the underwriters have been granted a 30-day option to purchase up to 6,183,333 additional shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions, from Amwell and certain stockholders of Amwell (the "Selling Stockholders"). Amwell will not receive any proceeds from the sale of Class A common stock by the Selling Stockholders.

The shares are expected to begin trading on The New York Stock Exchange under the symbol "AMWL" on September 17, 2020, and the offering is expected to close on September 21, 2020, subject to customary closing conditions.

Morgan Stanley, Goldman Sachs & Co. LLC and Piper Sandler are acting as lead joint book-running managers for the offering. UBS Investment Bank, Credit Suisse, Cowen and Berenberg are acting as bookrunners for the offering.

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