Amwell, formerly known as American Well, which provides a telehealth platform for insurers and patients, reported terms for its IPO. The Boston-based company plans to raise $525 million by offering 35 million shares at a price range of $14 to $16. The company plans to raise an additional $100 million in a concurrent private placement to Google. At the midpoint of the proposed range, American Well would command a fully diluted market value of $3.6 billion. The Amwell Platform's scalable technology enables care delivery across a wide variety of clinical, retail, school, and home settings. American Well was founded in 2006 and booked $202 million in revenue for the 12 months ended June 30, 2020. It plans to list on the NYSE under the symbol AMWL. Morgan Stanley, Goldman Sachs, Piper Sandler, UBS Investment Bank, Credit Suisse, Cowen and Berenberg are the joint bookrunners on the deal. It is expected to price during the week of Sept. 14.
Beverly, Mass.-based Lexagene Holdings Inc. has closed its previously reported offering of units for aggregate gross proceeds of approximately CA$13.29 million (US$11.73 million). The company issued 15,640,000 units at a price of CA$0.85 per unit, each unit consisting of one common share of the company and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one share at the price of CA$1.10 per share until Sept. 9, 2023. The offering was conducted by Canaccord Genuity Corp. and Industrial Alliance Securities Inc. On closing, Lexagene issued the underwriters an aggregate of 1,094,800 broker warrants, each broker warrant entitling the holder to purchase one share at the price of CA$1.10 per share until Sept. 9, 2023.
Cambridge, Mass.-based Lightforce Orthodontics Inc., makers of a fully customizable 3D-printed bracket system, raised a $14 million series B round led by Tyche Partners with follow-on investment from Matrix Partners and AM Ventures. Lightforce enables orthodontists to utilize its 3D-printing technology to create custom braces for each individual patient.
Paris-based Pixium Vision SA, a bioelectronics company that develops bionic vision systems to enable patients who have lost their sight to live more independently, has reimbursed its bond financing facility with Kreos Capital. The bond financing facility was opened in September 2016. Pixium Vision drew down €8 million (US$9.45 million) in 2017, through two tranches of €4 million each, and restructured the agreement in August 2018. The convertible bonds with €1 par value were refundable on Sept. 1, 2020, with the option to postpone for one additional year.