<SEC-DOCUMENT>0001193125-25-116891.txt : 20250509
<SEC-HEADER>0001193125-25-116891.hdr.sgml : 20250509
<ACCEPTANCE-DATETIME>20250509161023
ACCESSION NUMBER:		0001193125-25-116891
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250509
DATE AS OF CHANGE:		20250509

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AvidXchange Holdings, Inc.
		CENTRAL INDEX KEY:			0001858257
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		ORGANIZATION NAME:           	06 Technology
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40898
		FILM NUMBER:		25930509

	BUSINESS ADDRESS:	
		STREET 1:		1210 AVIDXCHANGE LANE
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28206
		BUSINESS PHONE:		8005609305

	MAIL ADDRESS:	
		STREET 1:		1210 AVIDXCHANGE LANE
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28206
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d942688ddefa14a.htm
<DESCRIPTION>DEFA14A
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<DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;
</DIV><DIV STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Proxy
Statement Pursuant to Section&nbsp;14(a) of the </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the Registrant&#8194;&#9746; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by a Party other
than the Registrant&#8194;&#9744; </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Preliminary Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Confidential, for Use of the Commission Only (as permitted by Rule
<FONT STYLE="white-space:nowrap">14a-6(e)(2))</FONT> </B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Additional Materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting Material under <FONT STYLE="white-space:nowrap">&#167;240.14a-12</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>AvidXchange Holdings, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified in its Charter) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>N/A </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s)
Filing Proxy Statement, if Other Than the Registrant) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of Filing Fee (Check all boxes that apply): </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">No fee required </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee paid previously with preliminary materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules
<FONT STYLE="white-space:nowrap">14a-6(i)(1)</FONT> and <FONT STYLE="white-space:nowrap">0-11</FONT> </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;
</DIV><DIV STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</DIV>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following communication was sent to customer-facing teammates and executive team members of AvidXchange
Holdings, Inc. on May&nbsp;9, 2025. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Corpay will acquire a minority interest in AvidXchange.&nbsp;Post-closing, TPG will be the controlling
shareholder as well as control the Board of Directors, which will be responsible for AvidXchange&#146;s ongoing strategic and operational direction.&nbsp;AvidXchange remains your partner and continues to own the <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">end-to-end</FONT></FONT> payment experience.&nbsp;We remain fully accountable for your overall payment experience and are committed to supporting you every step of the way. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Important Information and Where to Find It </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This
communication is being made in respect of the proposed transaction (the &#147;Transaction&#148;) involving AvidXchange Holdings, Inc. (&#147;AvidXchange,&#148; the &#147;Company&#148; or &#147;us&#148;), Arrow Borrower 2025, Inc.
(&#147;Parent&#148;) and Arrow Merger Sub 2025, Inc. The Transaction will be submitted to the Company&#146;s stockholders for their consideration and approval at a special meeting of the Company&#146;s stockholders. In connection with the
Transaction, the Company expects to file with the Securities and Exchange Commission (the &#147;SEC&#148;) a proxy statement on Schedule 14A (the &#147;Proxy Statement&#148;), the definitive version of which (if and when available) will be sent or
provided to the Company&#146;s stockholders and will contain important information about the Transaction and related matters.&nbsp;The Company, affiliates of the Company and affiliates of Parent intend to jointly file a transaction statement on
Schedule <FONT STYLE="white-space:nowrap">13E-3</FONT> (the &#147;Schedule <FONT STYLE="white-space:nowrap">13E-3&#148;)</FONT> with the SEC. The Company may also file other relevant documents with the SEC regarding the Transaction.&nbsp;This
communication is not a substitute for the Proxy Statement, the Schedule <FONT STYLE="white-space:nowrap">13E-3</FONT> or any other document that the Company may file with the SEC. BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE TRANSACTION,
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT, THE SCHEDULE <FONT STYLE="white-space:nowrap">13E-3</FONT> AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS
TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION, THE RISKS RELATED THERETO AND RELATED MATTERS.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investors and security holders may obtain free copies of the Proxy Statement, the Schedule <FONT STYLE="white-space:nowrap">13E-3</FONT> and other documents
containing important information about the Company and the Transaction that are filed or will be filed with the SEC by the Company when they become available at the SEC&#146;s website at&nbsp;www.sec.gov or at the Company&#146;s website at
ir.avidxchange.com. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Participants in the Solicitation </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company and certain of its directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be
participants in the solicitation of proxies from the Company&#146;s stockholders in connection with the Transaction. Information regarding the Company&#146;s directors and executive officers, including a description of their direct or indirect
interests, by security </P>
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holdings or otherwise, is contained in the definitive proxy statement for the 2025 annual meeting of stockholders, which was filed with the SEC on April&nbsp;30, 2025 (the &#147;2025 Annual
Meeting Proxy Statement&#148;), and will be available in the Proxy Statement. To the extent holdings of the Company&#146;s securities by such directors or executive officers (or the identity of such directors or executive officers) have changed
since the information set forth in the 2025 Annual Meeting Proxy Statement, such information has been or will be reflected on the Initial Statements of Beneficial Ownership on Form 3 or Statements of Changes in Beneficial Ownership on Form 4 filed
with the SEC. Additional information regarding the interests of the Company&#146;s directors and executive officers in the Transaction will be included in the Proxy Statement if and when it is filed with the SEC. You may obtain free copies of these
documents using the sources indicated above. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Cautionary Statement Regarding Forward-Looking Statements </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This communication includes certain &#147;forward-looking statements&#148; within the meaning of, and subject to the safe harbor created by, the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements are based on the Company&#146;s current expectations, estimates and projections about future events, which are subject to change. Any statements as to the expected timing,
completion and effects of the Transaction or that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements may be
identified by the use of words such as &#147;expect,&#148; &#147;anticipate,&#148; &#147;intend,&#148; &#147;aim,&#148; &#147;plan,&#148; &#147;believe,&#148; &#147;could,&#148; &#147;seek,&#148; &#147;see,&#148; &#147;should,&#148;
&#147;will,&#148; &#147;may,&#148; &#147;would,&#148; &#147;might,&#148; &#147;considered,&#148; &#147;potential,&#148; &#147;predict,&#148; &#147;projection,&#148; &#147;estimate,&#148; &#147;forecast,&#148; &#147;continue,&#148;
&#147;likely,&#148; &#147;target&#148; or similar expressions. By their nature, forward-looking statements address matters that involve risks and uncertainties because they relate to events and depend upon future circumstances that may or may not
occur. These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties, assumptions and other important factors, many of which are outside the Company&#146;s control, that could cause actual
results to differ materially from those expressed in any forward-looking statements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These risks, uncertainties, assumptions and other important factors
that might materially affect such forward-looking statements include, but are not limited to: (i)&nbsp;the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the Transaction that could reduce
anticipated benefits or cause the parties to abandon the Transaction; (ii)&nbsp;the possibility that the Company&#146;s stockholders may not approve the Transaction; (iii)&nbsp;the occurrence of any event, change or other circumstance that could
give rise to the termination of the merger agreement entered into pursuant to the Transaction; (iv)&nbsp;the risk that the parties to the merger agreement may not be able to satisfy the conditions to the Transaction in a timely manner or at all;
(v)&nbsp;the risk of any litigation relating to the Transaction; (vi)&nbsp;the risk that the Transaction and its announcement could have an adverse effect on the ability of the Company to retain buyers and retain and hire key personnel and maintain
relationships with buyers, suppliers, employees, stockholders and other business relationships and on the Company&#146;s operating results and business generally; (vii)&nbsp;the risk that the Transaction and its announcement could have adverse
effects on the market price of the Company&#146;s common stock; (viii)&nbsp;the possibility that the parties to the Transaction may not achieve some or all of any anticipated benefits with respect to the Company&#146;s
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business and the Transaction may not be completed in accordance with the parties&#146; expected plans or at all; (ix)&nbsp;the risk that restrictions on the Company&#146;s conduct during the
pendency of the Transaction may impact the Company&#146;s ability to pursue certain business opportunities; (x)&nbsp;the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors
or events; (xi)&nbsp;the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, including in circumstances requiring the Company to pay a termination fee; (xii)&nbsp;the risk that the
Company&#146;s stock price may decline significantly if the Transaction is not consummated; (xiii)&nbsp;the Company&#146;s ability to enter into new strategic relationships and to further develop existing strategic relationships, including
relationships with accounting and enterprise resource planning software providers, financial institutions, payment processing and other service providers; (xiv)&nbsp;the Company&#146;s ability to develop or acquire and deploy new solutions;
(xv)&nbsp;the Company&#146;s ability to raise capital and the terms of those financings; (xvi)&nbsp;the Company&#146;s ability to identify and respond to cybersecurity threats and incidents; (xvii)&nbsp;the risk posed by legislative, regulatory and
economic developments affecting the Company&#146;s business; (xviii)&nbsp;general economic and market developments and conditions, including with respect to federal monetary policy, federal trade policy, interest rates, interchange rates, labor
shortages and supply chain issues; and (xix)&nbsp;the other risk factors and cautionary statements described in the Company&#146;s Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended December&nbsp;31, 2024, and
other documents filed by the Company with the SEC. The above list of factors is not exhaustive or necessarily in order of importance. These forward-looking statements speak only as of the date they are made, and the Company does not undertake to,
and specifically disclaims any obligation to, update any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law. </P>
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