AvidXchange Holdings, Inc.

AvidXchange Holdings, Inc. (AVDX) priced its initial public offering on Oct 14, 2021 at $25.00 per share, within its $23.00–$25.00 range, raising $660M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $4.89B. Goldman Sachs was lead-left underwriter, joined by J.P. Morgan, BofA Securities and Barclays and others. Paul Hastings advised the company and Cooley advised the underwriters.

AvidXchange Holdings, Inc. provides accounts payable automation software and payment solutions for middle market businesses and their suppliers. Its SaaS platform automates payables workflows for more than 7,000 buyers, and the company has paid over 700,000 suppliers.

Status

IPO

Ticker

AVDX

Exchange

Nasdaq Global Select

Priced

Oct 14, 2021

IPO price

$25.00

Price range

$23.00–$25.00

Raised

$660M

Market cap at IPO price

$4.89B

First filed

Sep 17, 2021

Underwriters

Goldman Sachs, J.P. Morgan, BofA Securities, Barclays, Credit Suisse, KeyBanc, Deutsche Bank, Piper Sandler and Nomura

Company counsel

Paul Hastings

Underwriters' counsel

Cooley

Sector

Technology

Country / state

NC

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.