PLANO,
Texas, Nov. 6, 2024 /PRNewswire/ -- Alkami
Technology, Inc. (Nasdaq: ALKT) ("Alkami" or the "Company"), a
leading cloud-based digital banking solutions provider for
financial institutions in the U.S., today announced the pricing of
the previously announced underwritten secondary offering (the
"Offering") of an aggregate of 7,500,000 shares of the Company's
common stock to be sold by entities affiliated with General
Atlantic (AL), L.P., S3 Ventures Fund III, L.P., George B. Kaiser and Brian R. Smith (collectively, the "Selling
Stockholders"). The Offering is expected to close on November 8, 2024, subject to the satisfaction of
customary closing conditions. The underwriter has a 30-day option
to purchase up to an additional 1,125,000 shares of the Company's
common stock from the Selling Stockholders at the public offering
price, less underwriting discounts and commissions.
The Selling Stockholders will receive all of the net proceeds
from the Offering. The Company will not sell any shares of its
common stock in the Offering and will not receive any of the
proceeds from the sale of shares of the Company's common stock in
the Offering.
J.P. Morgan Securities LLC is acting as the underwriter and sole
book-running manager for the Offering.
The underwriter may offer the shares of common stock from time
to time for sale in one or more transactions on the Nasdaq Global
Select Market, in the over-the-counter market, through negotiated
transactions or otherwise at market prices prevailing at the time
of sale, at prices related to prevailing market prices or at
negotiated prices, subject to their right to reject any order in
whole or in part.
The Offering is being made pursuant to an automatically
effective shelf registration statement on Form S-3, which has been
filed by the Company with the Securities and Exchange Commission
(the "SEC") and became effective on August
8, 2024. The Offering is being made only by means of a free
writing prospectus, prospectus supplement and accompanying
prospectus that form a part of the registration statement. The
prospectus supplement and the accompanying prospectus relating to
and describing the terms of the Offering will be filed with the SEC
and will be available on the SEC's website at http://www.sec.gov.
Copies of the prospectus supplement, when available, and
accompanying prospectus relating to the Offering may be obtained
from: J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at
prospectus-eq_fi@jpmchase.com and
postsalemanualrequests@broadridge.com.
This press release is for informational purposes only and shall
not constitute an offer to sell or a solicitation of an offer to
buy, nor shall there be any sale of, these securities, in any state
or jurisdiction in which such an offer, solicitation, or sale would
be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Alkami
Alkami Technology, Inc. is a leading
cloud-based digital banking solutions provider for financial
institutions in the United States
that enables clients to grow confidently, adapt quickly and build
thriving digital communities. Alkami helps clients transform
through retail and business banking, digital account opening,
payment security, and data and marketing solutions.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking"
statements relating to the Offering and expected closing date.
These forward-looking statements are based on management's beliefs
and assumptions and on information currently available to
management. Forward-looking statements include all statements that
are not historical facts and may be identified by terms such as
"expects," "believes," "plans," or similar expressions and the
negatives of those terms. These forward-looking statements involve
known and unknown risks, uncertainties, and other factors that may
cause actual results, performance or achievements to be materially
different from any future results, performance or achievements,
expressed or implied by the forward-looking statements. Factors
that may materially affect such forward-looking statements include:
our limited operating history and history of operating losses; our
ability to manage future growth; our ability to attract new clients
and retain and expand existing clients' use of our solutions; the
unpredictable and time-consuming nature of our sales cycles; our
ability to maintain, protect and enhance our brand; our ability to
accurately predict the long-term rate of client subscription
renewals or adoption of our solutions; our reliance on third-party
software, content and services; our ability to effectively
integrate our solutions with other systems used by our clients;
intense competition in our industry; any downturn, consolidation or
decrease in technology spend in the financial services industry,
including as a result of recent closures of certain financial
institutions and liquidity concerns at other financial
institutions; our ability and the ability of third parties on which
we rely to prevent and identify breaches of security measures
(including cybersecurity) and resulting disruptions of our systems
or operations and unauthorized access to client customer and other
data; our ability to successfully integrate acquired companies or
businesses; our ability to comply with regulatory and legal
requirements and developments; our ability to attract and retain
key employees; the political, economic and competitive conditions
in the markets and jurisdictions where we operate; our ability to
maintain, develop and protect our intellectual property; our
ability to respond to evolving technological requirements to
develop or acquire new and enhanced products that achieve market
acceptance in a timely manner; our ability to estimate our
expenses, future revenues, capital requirements, our needs for
additional financing and our ability to obtain additional capital;
the completion of the Offering; the satisfaction of customary
closing conditions related to the Offering; and other factors
described in our filings with the Securities and Exchange
Commission. We undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable
law.
Investor Relations Contact
Steve Calk
ir@alkami.com
Media Relations Contacts
Marla
Pieton
marla.pieton@alkami.com
Valerie Kerner
alkami@fullyvested.com
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SOURCE Alkami Technology, Inc.