Amwell Faces Potential NYSE American Delisting Notice

Ticker: AMWL · Form: 8-K · Filed: 2024-04-04T00:00:00.000Z

Sentiment: bearish

Topics: delisting, compliance, exchange-listing

Related Tickers: AMWL

TL;DR

Amwell got a notice about possibly getting kicked off NYSE American. Big trouble?

AI Summary

American Well Corp. (Amwell) filed an 8-K on April 4, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The filing indicates a potential issue with meeting the listing requirements for its securities on the NYSE American exchange, though specific details regarding the rule or standard not met are not provided in this excerpt.

Why It Matters

This filing signals potential financial distress or non-compliance with exchange rules, which could lead to significant stock price volatility and investor concern.

Risk Assessment

Risk Level: high — A notice of delisting directly threatens the liquidity and marketability of the company's stock, indicating severe financial or compliance issues.

Key Players & Entities

FAQ

What specific listing rule or standard did American Well Corporation fail to meet?

The provided excerpt of the 8-K filing does not specify which particular listing rule or standard American Well Corporation failed to satisfy, only that a notice was issued.

What is the date of the earliest event reported in this 8-K filing?

The date of the earliest event reported is April 02, 2024.

Which stock exchange is American Well Corporation potentially facing delisting from?

American Well Corporation is potentially facing delisting from the NYSE American exchange.

What is the filing date of this 8-K report?

This 8-K report was filed on April 04, 2024.

What is the principal executive office address for American Well Corporation?

The principal executive office address is 75 State Street, 26th Floor, Boston, Massachusetts 02109.

From the Filing

0000950170-24-041830.txt : 20240404 0000950170-24-041830.hdr.sgml : 20240404 20240404162848 ACCESSION NUMBER: 0000950170-24-041830 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20240402 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240404 DATE AS OF CHANGE: 20240404 FILER: COMPANY DATA: COMPANY CONFORMED NAME: American Well Corp CENTRAL INDEX KEY: 0001393584 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39515 FILM NUMBER: 24823474 BUSINESS ADDRESS: STREET 1: 75 STATE STREET STREET 2: 26TH FLOOR CITY: Boston STATE: MA ZIP: 02109 BUSINESS PHONE: 617-205-3500 MAIL ADDRESS: STREET 1: 75 STATE STREET STREET 2: 26TH FLOOR CITY: Boston STATE: MA ZIP: 02109 8-K 1 amwl-20240402.htm 8-K 8-K false 0001393584 0001393584 2024-04-02 2024-04-02   UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 02, 2024     American Well Corporation (Exact name of Registrant as Specified in Its Charter)     Delaware 001-39515 20-5009396 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)           75 State Street 26th Floor   Boston , Massachusetts   02109 (Address of Principal Executive Offices)   (Zip Code)   Registrant’s Telephone Number, Including Area Code: 617 204-3500     (Former Name or Former Address, if Changed Since Last Report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class   Trading Symbol(s)   Name of each exchange on which registered Class A Common Stock, $0.01 Par Value   AMWL   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐   Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On April 2, 2024, American Well Corporation (the “Company”) received a notice from the New York Stock Exchange (the “NYSE”) that the Company was not in compliance with the continued listing minimum price criteria set forth in Section 802.01C of the NYSE’s Listed Company Manual (“Section 802.01C”) because the average closing price of the Company’s Class A Common Stock (the “Common Stock”) was less than $1.00 per share over a consecutive 30 trading-da

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