SCHEDULE: Greenhouse Funds Exits AvidXchange Stake

Greenhouse Funds LLLP, Greenhouse GP LLC, and Joseph Milano have reported 0% beneficial ownership in AvidXchange Holdings, Inc., indicating a full divestment.

Summary

• This is an Amendment No. 1 to a Schedule 13G filing for AvidXchange Holdings, Inc. (CUSIP: 05368X102).
• The reporting persons are Greenhouse Funds LLLP, Greenhouse GP LLC, and Joseph Milano.
• As of the event date of June 30, 2025, these reporting persons collectively hold 0% beneficial ownership of AvidXchange Holdings, Inc.'s Common Stock ($0.001 par value per share).
• This indicates a complete divestment of their previously held stake in the company, as their aggregate beneficial ownership is now zero shares.
• The filing was submitted on August 13, 2025.

Sentiment

Score: 3

Explanation: The filing indicates a complete divestment by a previously significant institutional investor, which is generally perceived as a negative signal for the company's stock, reflecting a bearish sentiment.

Negatives

• The reporting entities, Greenhouse Funds LLLP, Greenhouse GP LLC, and Joseph Milano, now hold 0% beneficial ownership of AvidXchange Holdings, Inc. Common Stock.
• This indicates a complete divestment of their previously held stake, which could be perceived negatively by the market as a loss of institutional investor confidence.

Risks

• Potential negative market perception and downward pressure on AvidXchange Holdings, Inc.'s stock price due to the complete divestment by a previously significant institutional investor.
• The exit of an institutional holder may signal a lack of confidence in the company's future prospects or current valuation.

Stakeholder Impact

• Shareholders: May react negatively to the news of an institutional investor fully divesting their stake, potentially leading to downward pressure on the stock price due to perceived loss of confidence.

Key Dates

Recommendation

The complete divestment by Greenhouse Funds LLLP, Greenhouse GP LLC, and Joseph Milano, who previously held a reportable stake, signals a lack of confidence from a significant institutional investor. This could lead to negative market sentiment and potential downward pressure on AvidXchange Holdings, Inc.'s stock price, suggesting a 'sell' recommendation for investors.

Keywords

AvidXchange Holdings, Greenhouse Funds, Schedule 13G, Beneficial Ownership, Divestment, Institutional Investor, Common Stock, AVDX