Why These 10 Stocks Soared Today

3. AvidXchange Holdings, Inc. (NASDAQ:AVDX)

AvidXchange jumped by 18.78 percent on Wednesday to close at $9.74 apiece as investors snapped up shares following news that it is set to be acquired by investment firm TPG and Corpay for $2.2 billion.

In a statement, Corpay said it inked a definitive agreement with the two parties for the acquisition of AvidXchange Holdings, Inc. (NASDAQ:AVDX) shares at a price of $10 apiece.

Under the deal, TPG will own a majority stake in AvidXchange, while Corpay will take the remaining 33 percent.

Corpay will also have the option to increase its stake in AvidXchange to as much as 100 percent by 2028.

The transaction is expected to be completed in the fourth quarter of 2025, subject to customary closing conditions.

“We couldn’t pass up the opportunity to participate in this transaction and invest in a large, complementary corporate payments business,” said Corpay Chairman and CEO Ron Clarke.