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

Role
Director
Signature
/s/ Ryan Stahl, Attorney-in-Fact for Nigel Morris
Stock symbol
AVDX
Transactions as of
Oct 15, 2021
Transactions value $
-$21
Form type
4
Date filed
10/19/2021, 09:04 PM
Previous filing
Oct 12, 2021
Next filing
Mar 8, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVDX Common Stock Options Exercise $718K +352K $2.04 352K Oct 15, 2021 By QED Fund III, L.P. F1
transaction AVDX Common Stock Tax liability -$718K -28.7K -8.16% $25.00 323K Oct 15, 2021 By QED Fund III, L.P. F1
transaction AVDX Common Stock Conversion of derivative security +891K +275.53% 1.21M Oct 15, 2021 By QED Fund III, L.P. 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 -352K -100% $0.00* 0 Oct 15, 2021 Common Stock 352K $2.04 By QED Fund II, L.P. F3
transaction AVDX Series E Preferred Stock Conversion of derivative security $0 -223K -100% $0.00* 0 Oct 15, 2021 Common Stock 891K By QED Fund II, L.P. 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.