AVDX Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Sale of AvidXchange Holdings to TPG Global and Corpay

Core Viewpoint - Wohl & Fruchter LLP is investigating the fairness of the proposed sale of AvidXchange Holdings, Inc. to TPG Global LLC and Corpay, Inc. for $10.00 per share in cash, focusing on potential conflicts of interest and whether the Avid Board acted in the best interests of shareholders [1][4][6]. Group 1: Sale Details - AvidXchange announced on May 6, 2025, that it agreed to be sold to TPG and Corpay for $10.00 per share in cash [4]. - Avid filed a preliminary proxy statement with the SEC on June 17, 2025, soliciting stockholders to vote for the proposed sale at a special meeting yet to be scheduled [2][5]. Group 2: Investigation Focus - The investigation by Wohl & Fruchter LLP centers on whether the Avid Board of Directors acted in the best interests of shareholders and if the agreed price is fair [6]. - Concerns have been raised regarding the lack of disclosure of material facts related to potential conflicts of interest in the proxy statement [2][5]. Group 3: Management's Role - Certain members of Avid's senior management, including CEO Michael Praeger, have agreed to roll over a significant portion of their equity in support of the deal, which is not being offered to public stockholders [4].