AvidXchange’s $660.0 Million IPO

Paul Hastings advised AvidXchange Holdings, Inc. on the deal.

AvidXchange Holdings, Inc., a leading provider of accounts payable and payment automation solutions for the middle market, priced its initial public offering of 26,400,000 shares of its common stock at $25.00 per share. AvidXchange has granted the underwriters a 30-day option to purchase up to an additional 3,960,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds of the offering, before deducting underwriting discounts and commissions and offering expenses payable by AvidXchange, are expected to be approximately $660.0 million, excluding any exercise of the underwriters’ option to purchase additional shares.

AvidXchange’s common stock began trading on the Nasdaq Global Select Market on Wednesday, October 13, 2021, under the symbol “AVDX.”

The Paul Hastings team was led by partners Teri O’Brien (Picture) and Brandon Bortner, and included of counsel Melissa Garcia, and associates Nicolette Ursini, Will Peifer, and Mia Seder.

Involved fees earner: Brandon Bortner – Paul Hastings LLP; Melissa Garcia – Paul Hastings LLP; Teri O’Brien – Paul Hastings LLP; Will Peifer – Paul Hastings LLP; Nicolette Ursini – Paul Hastings LLP;

Law Firms: Paul Hastings LLP;

Clients: AvidXchange;

Author: Martina Bellini