Google-Supported Telehealth Company Amwell Prices IPO

A company firmly placed in the burgeoning telehealth segment -- privately held Amwell -- has outlined the terms of its upcoming initial public offering (IPO) in a regulatory document filed on Tuesday.

The company aims to sell 35 million shares of its Class A common stock at a price between $14 and $16 per share. This would bring in gross proceeds of $490 million to $560 million. Amwell will utilize those monies "for working capital and other general corporate purposes," which could cover a range of uses. The company specifically mentioned boosting research and development, and expanding its sales team, among other purposes.

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Source Fool.com