diff --git a/hipamd/api/hip/hip_event.cpp b/hipamd/api/hip/hip_event.cpp
index 1507629321..4d2eea3985 100644
--- a/hipamd/api/hip/hip_event.cpp
+++ b/hipamd/api/hip/hip_event.cpp
@@ -100,6 +100,12 @@ hipError_t Event::streamWait(hipStream_t stream, uint flags) {
   if (stream_ == hostQueue) return hipSuccess;
 
   amd::ScopedLock lock(lock_);
+  bool retain = false;
+
+  if (event_ == nullptr) {
+    event_ = stream_->getLastQueuedCommand(true);
+    retain = true;
+  }
 
   if (!event_->notifyCmdQueue()) {
     return hipErrorUnknown;
@@ -114,6 +120,11 @@ hipError_t Event::streamWait(hipStream_t stream, uint flags) {
   command->enqueue();
   command->release();
 
+  if (retain) {
+    event_->release();
+    event_ = nullptr;
+  }
+
   return hipSuccess;
 }
 
diff --git a/hipamd/api/hip/hip_event.hpp b/hipamd/api/hip/hip_event.hpp
index 953665ed5b..4c6fb132e8 100644
--- a/hipamd/api/hip/hip_event.hpp
+++ b/hipamd/api/hip/hip_event.hpp
@@ -39,7 +39,7 @@ public:
 
 class Event {
 public:
-  Event(unsigned int flags) : flags(flags), lock_("hipEvent_t"), stream_(nullptr), event_(nullptr) {}
+  Event(unsigned int flags) : flags(flags), lock_("hipEvent_t"), stream_(getNullStream()), event_(nullptr) {}
   ~Event() {
     if (event_ != nullptr) {
       event_->release();