Form 4: AvidXchange CIO Sells Shares Post-Merger

AvidXchange Holdings, Inc. executive Angelic Gibson reported the disposition of common stock, restricted stock units, and stock options following the company's merger into a wholly-owned subsidiary of Arrow Borrower 2025, Inc. for $10.00 per share.

Summary

• Angelic Gibson, Chief Information Officer and Senior Vice President of AvidXchange Holdings, Inc., reported changes in her beneficial ownership.
• The changes occurred on October 15, 2025, in connection with the merger of AvidXchange Holdings, Inc. into a wholly-owned subsidiary of Arrow Borrower 2025, Inc. (Parent).
• Under the Merger Agreement dated May 6, 2025, each outstanding share of Common Stock was converted into the right to receive $10.00 in cash.
• Ms. Gibson disposed of 716,036 shares of Common Stock.
• Outstanding unvested restricted stock units (RSUs) were converted into a cash award equal to the number of underlying shares multiplied by the $10.00 Merger Consideration.
• Ms. Gibson disposed of 21,767 restricted stock units.
• Vested stock options were canceled and converted into a cash payment equal to the number of shares subject to the option multiplied by the excess of the $10.00 Merger Consideration over the exercise price.
• Unvested stock options with an exercise price less than the Merger Consideration were converted into a cash award based on the same calculation.
• Ms. Gibson disposed of employee stock options to buy 32,000 shares at $3.785, 194,174 shares at $8.04, and 136,363 shares at $9.

Sentiment

Score: 5

Explanation: The filing is a factual report of a completed transaction following a merger, providing no basis for positive or negative sentiment regarding ongoing company performance or future prospects as a public entity.

Positives

• Shareholders and equity award holders received a cash payment of $10.00 per share for their holdings, providing liquidity and a defined return.
• The merger consideration for stock options with exercise prices below $10.00 resulted in a cash payout for the intrinsic value of those options.

Negatives

• AvidXchange Holdings, Inc. is no longer an independent publicly traded company, eliminating future investment opportunities in its common stock.
• Equity holders no longer participate in any potential future upside or growth of AvidXchange as a standalone public entity.

Future Outlook

AvidXchange Holdings, Inc. is now a wholly-owned subsidiary of Arrow Borrower 2025, Inc., and as such, no public future outlook or guidance is provided in this filing.

Industry Context

This transaction represents a significant event in the financial technology (fintech) sector, where a publicly traded company, AvidXchange, has been acquired and taken private. Such mergers often reflect consolidation trends or strategic shifts by private equity or larger corporations seeking to integrate specialized payment solutions.

Stakeholder Impact

• Shareholders: Received $10.00 per share in cash, converting their equity holdings into a liquid asset.
• Employees (with equity awards): Received cash payouts for their vested stock options and unvested restricted stock units, subject to the terms of their awards.

Next Steps

• For former shareholders, the next step is the receipt of the $10.00 per share cash consideration.
• For the reporting person, the equity conversion to cash awards is complete.

Key Dates

Keywords

AvidXchange, AVDX, Merger, Form 4, Insider Transaction, Beneficial Ownership, Stock Options, Restricted Stock Units, Angelic Gibson, Cash Consideration