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

October 13, 2021 5:41 AM | 1 min read |

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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