Benzinga | Oct 13, 2021 05:41AM EDT

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

* Accounts payable and payment automation solutions provider AvidXchange Holdings Inc (NASDAQ: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