Paul Hastings-Led Payments Firm Prices Upsized $660M IPO

By McCord Pagan (October 13, 2021, 3:44 PM EDT) -- Middle market-focused payments software firm AvidXchange began trading on the Nasdaq Wednesday after raising $660 million in an upsized initial public offering guided by Paul Hastings LLP and underwriters' counsel Cooley LLP.

Charlotte, North Carolina-based AvidXchange Holdings Inc. sold 26.4 million shares at $25 each, and its underwriters have a 30-day option to buy an additional roughly 4 million shares, which could raise another $99 million. The offering is an increase from the company's original plan to sell 22 million shares for between $21 and $23 each.

"With the majority of companies today continuing to operate paper-intensive back offices, we are...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!