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AvidXchange increases and increases the expected price range of the IPO

AvidXchange Holdings Inc. AVDX could raise up to $ 44 million more than originally expected as the North Carolina-based accounts payable software company increased the estimated price range of its initial public offering. The company said it was still offering 22.0 million shares when it went public, priced at between $ 23-25 ​​per share, up from an earlier estimate of $ 21-23 per share since the company was up could raise up to $ 550 million. The new price range implies the company could now be valued at up to $ 4.78 billion, up from an earlier estimate of $ 4.40 billion. The company aims to go public at a time when the Renaissance IPO ETF IPO, -0.79%, is up less than 0.1% in the past three months, while the S&P 500 SPX, + 0.06% , 2.0%.

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