Business

AvidXchange files to go public

AvidXchange Inc., an accounts payable automation software program firm, plans to go public, in accordance with a submitting with the Securities and Change Fee on Friday.

The Charlotte, N.C.-based firm mentioned it plans to boost as much as $100 million, however that determine is usually used as a placeholder and is up to date in subsequent filings. Goldman Sachs, JP Morgan, B. of A. Securities, and Barclays are listed among the many underwriters for the providing.

The corporate plans to record its inventory underneath the ticker “AVDX” on the Nasdaq.

AvidXchange reported gross sales of $185.9 million and a lack of $166.3 million in 2020, in contrast with income of $149.6 million and lack of $107.9 million in 2019.

The corporate didn’t distinguish lessons of inventory within the submitting close to voting energy. Bain Capital owns 14% of firm shares, Mastercard Funding Holdings holds 7.5%, And Chief Government Michael Praeger owns 8.5%.

https://www.marketwatch.com/story/avidxchange-files-to-go-public-11631918087?rss=1&siteid=rss | AvidXchange recordsdata to go public

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