American Well $356.8 million secondary offering
Davis Polk advised American Well Corporation (“Amwell”) in connection with an SEC-registered secondary offering of 12,972,744 shares of Class A common stock by certain selling shareholders for approximately $356.8 million in total gross proceeds, including 1,692,097 shares purchased pursuant to the full exercise of the underwriters’ option to purchase additional shares. The Class A common stock is listed on the New York Stock Exchange under the symbol “AMWL.”
Amwell is a leading telehealth platform in the United States and globally, connecting and enabling providers, insurers, patients and innovators to deliver greater access to more affordable, higher quality care. Amwell believes that digital care delivery will transform healthcare. The company offers a single, comprehensive platform to support all telehealth needs from urgent to acute and post-acute care, as well as chronic care management and healthy living. With over a decade of experience, Amwell powers telehealth solutions for over 2,000 hospitals and 55 health plan partners with over 36,000 employers, covering over 80 million lives.
The Davis Polk corporate team included partner Michael Kaplan and associate David Li. The executive compensation team included partner Adam Kaminsky and associates Charlotte R. Fabiani and Melissa Esposito. Partner Michael Mollerus and associate Daniel L. Jose provided tax advice. Members of the Davis Polk team are based in the New York and Washington DC offices.