AvidXchange Raises $660M Via Upsized IPO At $25/Share, Begins Trading From Today

  • Accounts payable and payment automation solutions provider AvidXchange Holdings Inc AVDX priced 26.4 million shares at $25 per share in an upsized initial public offering.
  • The estimated gross proceed is $660 million. All of the shares are being offered by AvidXchange.
  • The underwriters have a 30-day option to purchase additional shares up to 3.96 million.
  • Earlier, the company had estimated to offer 22 million shares at $23 - $25 per share.
  • AvidXchange's shares will begin trading on the Nasdaq on October 13, under the symbol "AVDX."
  • Related Content: Peter Thiel-Backed AvidXchange Gears For IPO At High Valuations: Reuters
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