AvidXchange raises expected pricing range of IPO, boosting

AvidXchange Holdings Inc. could raise up to $44 million more than it previously expected, as the North Carolina-based provider of accounts payable automation software raised the estimated pricing range of its initial public offering. The company said it is still offering 22.0 million shares in the IPO, which is now expected to price between $23 and $25 a share, up from a previous estimate of between $21 and $23 a share, as the company could raise up to $550 million. The new pricing range implies the company could now be valued at up to $4.78 billion, up from a previous estimate of $4.40 billion. The company is looking to go public at a time that the Renaissance IPO ETF has inched up less than 0.1% over the past three months, while the S&P 500 has gained 2.0%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

AvidXchange raises expected pricing range of IPO, boosting
AvidXchange Holdings Inc. could raise up to $44 million more than it previously expected, as the North Carolina-based provider of accounts payable automation software raised the estimated pricing range of its initial public offering. The company said it is still offering 22.0 million shares in the IPO, which is now expected to price between $23 and $25 a share, up from a previous estimate of between $21 and $23 a share, as the company could raise up to $550 million. The new pricing range implies the company could now be valued at up to $4.78 billion, up from a previous estimate of $4.40 billion. The company is looking to go public at a time that the Renaissance IPO ETF has inched up less than 0.1% over the past three months, while the S&P 500 has gained 2.0%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.