BAIN CAPITAL VENTURE INVESTORS, LLC - 15 Oct 2021 Form 4 Insider Report for AvidXchange Holdings, Inc. (AVDX)

Role: 10%+ Owner
Signature: Bain Capital Venture Investors, LLC, By: /s/ Matthew C. Harris, Title: Managing Director
Issuer symbol: AVDX
Transactions as of: 15 Oct 2021
Net transactions value: $0
Form type: 4
Filing time: 19 Oct 2021, 21:28:45 UTC
Previous filing: 12 Oct 2021
Next filing: 26 Oct 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AVDX	Common Stock	Conversion of derivative security		+23,383,240			23,383,240	15 Oct 2021	See footnotes	F1, F2, F3, F4, F5, F6, F7

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	Series E Preferred Stock	Conversion of derivative security		-5,845,810	-100%		0	15 Oct 2021	Common Stock	23,383,240		See footnotes	F1, F2, F3, F4, F5, F6, F7

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

Explanation of Responses:

Id	Content
F1	Each share of Series E Preferred Stock automatically converted into four shares of Common Stock immediately prior to the closing of the Issuer's initial public offering (the "Conversion"). These shares had no expiration date.
F2	Bain Capital Venture Investors, LLC ("BCVI") is the general partner of Bain Capital Venture Partners 2014, L.P. ("BCV Partners 2014"), which is the general partner of Bain Capital Venture Fund 2014, L.P. ("BCV Fund 2014"). As a result, BCV Partners 2014 may be deemed to share voting and dispositive power with respect to the securities held by BCV Fund 2014. BCV Partners 2014 disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein. In the Conversion, the 1,807,597 shares of Series E Preferred Stock held by BCV Fund 2014 automatically converted into 7,230,388 shares of Common Stock.
F3	BCVI is the general partner of Bain Capital Venture Coinvestment Partners, L.P. ("BCV Coinvest Partners"), which is the general partner of Bain Capital Venture Coinvestment Fund, L.P. ("BCV Coinvest Fund"). As a result, BCV Coinvest Partners may be deemed to share voting and dispositive power with respect to the securities held by BCV Coinvest Fund. BCV Coinvest Partners disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein. In the Conversion, the 2,437,790 shares of Series E Preferred Stock held by BCV Coinvest Fund automatically converted into 9,751,160 shares of Common Stock.
F4	In the Conversion, the 1,113,487 shares of Series E Preferred Stock held by BCV AX Investors, L.P. ("BCV AX"), whose general partner is BCVI, automatically converted into 4,453,948 shares of Common Stock.
F5	In the Conversion, the 460,899 shares of Series E Preferred Stock held by BCIP Venture Associates ("BCIP Venture"), whose managing partner is Boylston Coinvestors, LLC ("Boylston"), automatically converted into 1,843,596 shares of Common Stock.
F6	In the Conversion, the 26,037 shares of Series E Preferred Stock held by BCIP Venture Associates-B ("BCIP Venture-B" and, together with BCV Fund 2014, BCV Coinvest Fund, BCV AX and BCIP Venture, the "Bain Capital Venture Entities"), whose managing partner is Boylston, automatically converted into 104,148 shares of Common Stock.
F7	The governance, investment strategy and decision-making process with respect to the investments held by the Bain Capital Venture Entities is directed by the Executive Committee of BCVI, which consists of Enrique Salem and Ajay Agarwal. As a result, BCVI and Messrs. Salem and Agarwal may be deemed to share voting and dispositive power with respect to the securities held by the Bain Capital Venture Entities. BCVI and Messrs. Salem and Agarwal disclaim beneficial ownership of such securities except to the extent of their pecuniary interest therein.