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CHARLOTTE, N.C. — AvidXchange is set to become Charlotte’s next public company. The financial-technology firm filed for an initial public offering today for an unspecified amount.
The filing lists AvidXchange’s maximum offering at $100 million, although subsequent entries are left blank. It wants to use proceeds to redeem preferred stock and for “general corporate purposes,” including headcount expansion, investments in sales and marketing, product development, administration and working capital, according to the filing with the U.S. Securities and Exchange Commission.
It could also be used for acquisitions or investments into complementary businesses, products or services, the filing stated.
Read more here.
(WATCH BELOW: What you need to know about AvidXchange)
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