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Alkami Announces Launch of Proposed Secondary Offering of Common Stock by Selling Stockholders

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Alkami Technology (Nasdaq: ALKT) announced a secondary offering of 7,500,000 shares of common stock by selling stockholders including entities affiliated with General Atlantic, S3 Ventures Fund III, George B. Kaiser, and Brian R. Smith. The selling stockholders may grant underwriters a 30-day option to purchase up to 1,125,000 additional shares. J.P. Morgan Securities is acting as the sole underwriter. Alkami will not receive any proceeds from the offering as all net proceeds will go to the selling stockholders. The offering is being made through an effective shelf registration statement filed with the SEC.

Alkami Technology (Nasdaq: ALKT) ha annunciato un'offerta secondaria di 7.500.000 azioni ordinarie da parte di azionisti venditori, tra cui entità affiliate a General Atlantic, S3 Ventures Fund III, George B. Kaiser e Brian R. Smith. Gli azionisti venditori possono concedere agli underwriting un'opzione di 30 giorni per acquistare fino a 1.125.000 azioni aggiuntive. J.P. Morgan Securities funge da unico underwriter. Alkami non riceverà alcun ricavato dall'offerta poiché tutti i proventi netti andranno agli azionisti venditori. L'offerta avviene attraverso una dichiarazione di registrazione shelf efficace presentata alla SEC.

Alkami Technology (Nasdaq: ALKT) anunció una oferta secundaria de 7,500,000 acciones comunes por parte de accionistas vendedores, incluyendo entidades afiliadas a General Atlantic, S3 Ventures Fund III, George B. Kaiser y Brian R. Smith. Los accionistas vendedores pueden otorgar a los suscriptores una opción de 30 días para comprar hasta 1,125,000 acciones adicionales. J.P. Morgan Securities actúa como el único suscriptor. Alkami no recibirá ingresos de la oferta ya que todos los ingresos netos irán a los accionistas vendedores. La oferta se está realizando a través de una declaración de registro de estantería efectiva presentada ante la SEC.

알카미 테크놀로지 (Nasdaq: ALKT)는 제너럴 앨란틱, S3 벤처스 펀드 III, 조지 B. 카이저 및 브라이언 R. 스미스와 관련된 주주들이 7,500,000주 일반주식의 추가 제공을 발표했습니다. 판매 주주는 언더라이터에게 최대 1,125,000주의 추가 매입 옵션을 30일 동안 부여할 수 있습니다. JP모건 증권은 독점 언더라이터로 활동하고 있습니다. 알카미는 모든 순이익이 주주들에게 돌아가기 때문에 이번 공모에서 수익을 받지 않습니다. 이 공모는 SEC에 제출된 유효한 선등록 등록을 통해 이루어집니다.

Alkami Technology (Nasdaq: ALKT) a annoncé une offre secondaire de 7 500 000 actions ordinaires par des actionnaires vendeurs, y compris des entités affiliées à General Atlantic, S3 Ventures Fund III, George B. Kaiser et Brian R. Smith. Les actionnaires vendeurs peuvent accorder aux souscripteurs une option d'achat de 30 jours pour acquérir jusqu'à 1 125 000 actions supplémentaires. J.P. Morgan Securities agit en tant que seul souscripteur. Alkami ne recevra aucun produit de l'offre, tous les produits nets étant destinés aux actionnaires vendeurs. L'offre est réalisée par le biais d'une déclaration d'enregistrement en circulation effective soumise à la SEC.

Alkami Technology (Nasdaq: ALKT) hat ein sekundäres Angebot von 7.500.000 Stammaktien durch verkaufswillige Aktionäre, darunter mit General Atlantic, S3 Ventures Fund III, George B. Kaiser und Brian R. Smith verbundene Unternehmen, angekündigt. Die verkaufswilligen Aktionäre können den Underwritern eine 30-tägige Option einräumen, um bis zu 1.125.000 zusätzliche Aktien zu erwerben. J.P. Morgan Securities fungiert als alleiniger Underwriter. Alkami wird aufgrund der Tatsache, dass alle Nettomittel den verkaufswilligen Aktionären zufließen, keine Erlöse aus dem Angebot erhalten. Das Angebot erfolgt durch eine wirksame Shelf-Registrierungsanmeldung, die bei der SEC eingereicht wurde.

Positive
  • None.
Negative
  • Significant insider selling of 7.5M shares with potential additional 1.125M shares
  • Large secondary offering could create selling pressure on the stock
  • Major shareholders reducing their positions might signal decreased confidence

Insights

This secondary offering of 7.5 million shares plus an optional 1.125 million shares by major stockholders signals a significant shift in ownership structure. The selling stockholders, including General Atlantic and other early investors, are looking to reduce their positions, which could impact stock price and trading dynamics. While the company won't receive any proceeds, the increased float could improve liquidity for retail investors.

The timing and size of this offering suggest confidence in current market conditions and Alkami's valuation. With J.P. Morgan as the sole underwriter, the placement is likely to be well-managed, though temporary price pressure may occur due to increased supply. The automatic effectiveness of the shelf registration indicates strong regulatory compliance and preparation for this liquidity event.

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 launch of an 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 Selling Stockholders also expect to grant to the underwriter an option, exercisable for 30 days, 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 Offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the Offering may be completed.

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 will be made only by means of a free writing prospectus, prospectus supplement and accompanying prospectus that form a part of the registration statement. Before you invest, you should read the prospectus included in the registration statement, the documents incorporated by reference therein, the free writing prospectus, the prospectus supplement and any other documents that the Company may file with the SEC for more complete information about the Company and the Offering, when available, by visiting 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 size and timing of the Offering and the granting of an option to purchase additional shares of the Company's common stock by the Selling Stockholders. 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; statements about the Offering; the Selling Stockholders' intention to grant the Underwriter an option to purchase additional shares; 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.

FAQ

How many shares are being offered in Alkami's (ALKT) secondary offering?

The secondary offering includes 7,500,000 shares of common stock, with an additional option for underwriters to purchase up to 1,125,000 shares within 30 days.

Will Alkami (ALKT) receive any proceeds from the secondary offering?

No, Alkami will not receive any proceeds from the offering. All net proceeds will go to the selling stockholders.

Who are the selling stockholders in Alkami's (ALKT) secondary offering?

The selling stockholders include entities affiliated with General Atlantic (AL), L.P., S3 Ventures Fund III, L.P., George B. Kaiser, and Brian R. Smith.

Who is the underwriter for Alkami's (ALKT) secondary offering?

J.P. Morgan Securities is acting as the underwriter and sole book-running manager for the offering.

Alkami Technology, Inc.

NASDAQ:ALKT

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4.05B
100.50M
30.4%
64.08%
1.03%
Software - Application
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United States of America
PLANO