Friday Afternoon wedding

Hello Lovely Brides ! My fiance and I are planning our wedding the Friday before the fourth of July next year. We are having issues narrowing down our guest list. Currently we have 175 on the list 35 which are children under 10. Our perspective venue provides 100 chairs for the ceremony (we can purchase more for the ceremony) and 150 for the reception. Our Venue can hold up to 200 people (there is only enough room to seat 150 at tables and have a dance floor). With it being a Friday afternoon (4:30 start) and the weekend before the holiday would it be okay to invite more than the 150 we have chairs for the reception? We are catering the meal so that is not a concern and it will be buffet style. I know it's risky to invite more people than we technically have space seats for.