John C. Morris - 15 Oct 2021 Form 4 Insider Report for AvidXchange Holdings, Inc. (AVDX)

Role: Director
Signature: /s/ Ryan Stahl, Attorney-in-Fact for John C. Morris
Issuer symbol: AVDX
Transactions as of: 15 Oct 2021
Net transactions value: -$21.04
Form type: 4
Filing time: 19 Oct 2021, 21:02:27 UTC
Previous filing: 12 Oct 2021
Next filing: 06 Jun 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AVDX	Common Stock	Options Exercise	$718,129	+352,024		$2.04^*	352,024	15 Oct 2021	By Nyca Investment Partnership, LP	F1
transaction	AVDX	Common Stock	Tax liability	$718,150	-28,726	-8.2%	$25.00	323,298	15 Oct 2021	By Nyca Investment Partnership, LP	F1
transaction	AVDX	Common Stock	Conversion of derivative security		+668,096	+207%		991,394	15 Oct 2021	By Nyca Investment Partnership, LP	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AVDX	Warrant (right to buy)	Options Exercise	$0	-352,024	-100%	$0.000000^*	0	15 Oct 2021	Common Stock	352,024	$2.04	By Nyca Investment Partnership, LP	F3
transaction	AVDX	Series E Preferred Stock	Conversion of derivative security	$0	-167,024	-100%	$0.000000^*	0	15 Oct 2021	Common Stock	668,096		By Nyca Investment Partnership, LP	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	In connection with the issuer's initial public offering of common stock, these warrants were automatically converted into shares of the issuer's common stock on a net exercise basis.
F2	In connection with the issuer's initial public offering of common stock, all shares of Series E Preferred Stock were automatically converted into shares of the issuer's common stock on a 4-for-1 basis. The preferred stock was perpetual and therefore had no expiration date.
F3	The number of underlying shares of common stock and the exercise price reflect the 4-for-1 forward stock split which was effected on September 30, 2021.