AvidXchange corrects shareholder shareholding data incorrectly provided by various financial data and media service providers to Wall Street as a whole

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AvidXchange

CHARLOTTE, NC, March 17, 2022 (GLOBE NEWSWIRE) — AvidXchange Holdings, Inc. (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market companies and their suppliers, on its part corrects ownership data that has been provided by various financial data and media services providers to institutional investors and brokerage houses. According to data provided by these service providers, Mastercard Investment Holdings, Inc. had significantly reduced the number of common shares of AvidXchange Holdings, Inc. it held as of the December 31, 2021 filing date. Exhibit 13G filed by Mastercard on February 8, 2022 with the Securities and Exchange Commission did not reflect any change in its ownership. Similarly, shareholding data provided by various financial data and media services providers also reflected a significant reduction in the number of common shares of AvidXchange Holdings, Inc. held by shareholders affiliated with Mr. Steve McLaughlin as of October 13, 2021. filing date. This information was also incorrect and the company was informed by Mr. McLaughlin that the shares held by these affiliated entities remained unchanged as of October 13, 2021.

About AvidXchange™

AvidXchange is a leading provider of Accounts Payable (“AP”) automation software and payment solutions for mid-market businesses and their vendors. AvidXchange’s Software-as-a-Service-based end-to-end payment and software platform digitizes and automates AP workflows for more than 8,000 businesses and has made payments to more than 825,000 vendor customers. its buyers over the past five years. To learn more about how AvidXchange is transforming the way businesses pay their bills, visit www.AvidXchange.com.

Forward-looking statements

This press release may contain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements generally relate to future events or our future financial or operating performance and often contain words such as: “anticipate”, “intend”, “plan”, “aim”, “seek”, “believe”, “project”, “estimate”, “expect”, “future “, “likely”, “may”, “should”, “will” and similar words and expressions indicating future results. The information set forth in this press release regarding our expectations of future performance, including business strategy and share ownership, and other statements that are not purely statements of historical fact, are forward-looking in nature. These forward-looking statements are made based on management’s current expectations, assumptions, estimates and projections and are subject to important risks and uncertainties that could cause actual results to differ materially from those anticipated in such forward-looking statements. We therefore cannot guarantee future results, performance or achievements.

Factors that could cause actual results or effects to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risk factors and other cautionary statements described in the registration statements and periodic reports we file with the SEC, including our prospectus as filed with the SEC pursuant to Rule 424(b)(4) on October 14, 2021, which may be obtained in the investor relations section of our website (https://ir.avidxchange.com/) and on the SEC website at www.sec.gov. Any forward-looking statements we make in this press release are based solely on information currently available to us and speak only as of the date they are made, and we undertake no obligation to update the any of these statements in light of new information, future events or otherwise, except as required by federal securities laws.

Investor contacts:
Subhaash Kumar
Skumar1@avidxchange.com
813.760.2309

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