Amwell reached an agreement May 17 to reduce the earnout period associated with its acquisition of digital mental health platform SilverCloud Health.
The agreement will give an aggregate of 4.96 million shares of the company's Class A common stock to the former stockholders of SilverCloud Health, according to a press release.
The news comes after the telehealth company announced the early termination of the earnout associated with its acquisition of virtual health company Conversa Health.
Both SilverCloud Health and Conversa Health were purchased by Amwell on Aug. 31 2021, for $320 million.