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Avidxchange Announces Board Member Resignations Following Merger Completion
ByAinvest
Wednesday, Oct 15, 2025 1:22 pm ET1min read
Avidxchange Holdings has announced the resignations of several board members in connection with the consummation of a merger. The company's ratings include a super rating of "Trader" based on valuation and EPS revisions, an investor rating of "Investor" based on fundamentals and valuation, a global rating of "Global" based on fundamentals and valuation, a quality rating of "Quality" based on capital efficiency and financial health, and an ESG MSCI rating of "BBB".
Avidxchange Holdings, Inc. has announced the resignation of several board members in connection with the consummation of a merger. The resignations, effective on the closing date, include Oni Chukwu, Lance Drummond, James Hausman, Teresa Mackintosh, J. Michael McGuire, Asif Ramji, Arthur J. Rubado, and Sonali Sambhus. These departures are solely related to the merger and not a result of any operational disagreements, according to a MarketScreener report .Avidxchange Holdings is a provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers. The company's cloud-based platform digitizes and automates the AP workflow for its buyer and supplier customers. The company serves various industries, including real estate, homeowner's associations, construction, financial services, healthcare, social services, education, and media, as noted in the MarketScreener report referenced above.
The company has received positive ratings across various categories, according to a StockTitan profile . It has a super rating of "Trader" based on valuation and EPS revisions, an investor rating of "Investor" based on fundamentals and valuation, a global rating of "Global" based on fundamentals and valuation, a quality rating of "Quality" based on capital efficiency and financial health, and an ESG MSCI rating of "BBB".
On October 15, 2025, Avidxchange Holdings was acquired by TPG and Corpay for $10.00 per share, creating a private company valued at approximately $2.2 billion. The transaction was approved by shareholders and closed after regulatory approvals and customary closing conditions. As of the closing date, Avidxchange shares have ceased trading and the company is no longer listed on the Nasdaq Global Select Market, a development also reported by StockTitan.
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