SCHEDULE 13G: Greenhouse Funds and Affiliates Disclose 5.5% Stake in AvidXchange Holdings

Greenhouse Funds LLLP, Greenhouse GP LLC, and Joseph Milano have jointly filed a Schedule 13G, reporting beneficial ownership of 5.5% of AvidXchange Holdings, Inc.'s common stock.

Summary

• Greenhouse Funds LLLP, Greenhouse GP LLC, and Joseph Milano have collectively reported beneficial ownership of 11,175,410 shares of AvidXchange Holdings, Inc. Common Stock.
• This aggregate ownership represents 5.5% of the outstanding class of AvidXchange Holdings, Inc. common stock.
• The filing was made under Rule 13d-1(b), indicating that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
• Greenhouse Funds LLLP, a Delaware entity, is identified as an investment adviser (IA) and an owner (OO).
• Greenhouse GP LLC, also a Delaware entity, is classified as a parent holding company (HC) and an owner (OO).
• Joseph Milano, a U.S. citizen, is identified as a parent holding company (HC) and an individual (IN), and serves as an authorized person for both Greenhouse Funds LLLP and Greenhouse GP LLC.
• The reporting persons share voting power over 9,996,653 shares and shared dispositive power over all 11,175,410 beneficially owned shares.
• All reported securities are directly owned by advisory clients of Greenhouse Funds LLLP, with no single client beneficially owning more than 5% of the common stock.

Sentiment

Score: 5

Explanation: This is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the issuer's performance or prospects.

Future Outlook

NA

Management Comments

• Joseph Milano, on behalf of Greenhouse Funds LLLP, Greenhouse GP LLC, and himself, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of AvidXchange Holdings, Inc.

Industry Context

NA

Key Dates

Keywords

AvidXchange Holdings Inc., Greenhouse Funds LLLP, Greenhouse GP LLC, Joseph Milano, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing