Amwell files to to go public with $100M in financing from Google

Telehealth company Amwell is going public with $100 million in backing from Google.

The company filed its preliminary prospectus with the Securities and Exchange Commission (SEC) on Monday. The company confidentially filed for an IPO in June, according to a report from CNBC reporters Christina Farr and Ari Levy.

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

The number of shares to be offered and the price range for the proposed offering have not yet been determined. Amwell will be listed on the New York Stock Exchange under the ticket symbol "AMWL."

Google is investing $100 million into the telehealth company as part of a stock purchase agreement, according to the S-1 filing. Amwell will issue the tech giant $100 million of its Class C common stock, with the price per share to be equal to the purchase price to the public in the IPO. 

The telehealth company also announced Monday a strategic parnership with Google Cloud. As part of that deal, Amwell selected Google Cloud as its preferred global cloud platform partner, and will migrate its video performance capabilities onto Google's cloud platform for both new and existing customers.