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Alkami Announces Pricing of Secondary Offering of Common Stock by Selling Stockholders

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Alkami Technology (Nasdaq: ALKT) announced the pricing of a secondary offering of 7,500,000 shares of common stock by selling stockholders including General Atlantic, S3 Ventures Fund III, George B. Kaiser, and Brian R. Smith. The underwriter, J.P. Morgan Securities , has a 30-day option to purchase an additional 1,125,000 shares. The offering is expected to close on November 8, 2024. Alkami will not receive any proceeds from this offering as all 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 il prezzo di un'offerta secondaria di 7.500.000 azioni di azioni ordinarie da parte di azionisti venditori, tra cui General Atlantic, S3 Ventures Fund III, George B. Kaiser e Brian R. Smith. Il collocatore, J.P. Morgan Securities, ha un'opzione di 30 giorni per acquistare ulteriori 1.125.000 azioni. L'offerta è prevista per chiudersi il 8 novembre 2024. Alkami non riceverà alcun provento da questa offerta poiché tutti i proventi andranno agli azionisti venditori. L'offerta viene effettuata attraverso un'efficace registrazione di shelf registrata presso la SEC.

Alkami Technology (Nasdaq: ALKT) anunció el precio de una oferta secundaria de 7,500,000 acciones de acciones ordinarias por parte de accionistas vendedores, incluidos General Atlantic, S3 Ventures Fund III, George B. Kaiser y Brian R. Smith. El bajo, J.P. Morgan Securities, tiene una opción de 30 días para comprar 1,125,000 acciones adicionales. Se espera que la oferta cierre el 8 de noviembre de 2024. Alkami no recibirá ningún ingreso de esta oferta, ya que todos los ingresos irán a los accionistas vendedores. La oferta se realiza a través de una declaración de registro de estante efectiva presentada ante la SEC.

알카미 기술 (Nasdaq: ALKT)는 7,500,000주의 보통주에 대한 두 번째 공모가 가격을 발표했습니다. 판매 주주는 제너럴 애틀랜틱, S3 벤처스 펀드 III, 조지 B. 카이저 및 브라이언 R. 스미스가 포함됩니다. 인수자는 J.P. 모건 증권이며, 추가로 1,125,000주를 구매할 수 있는 30일 옵션이 있습니다. 이 공모는 2024년 11월 8일에 마감될 예정입니다. 알카미는 이 공모에서 어떤 수익도 받지 않으며, 모든 수익은 판매 주주에게 돌아갑니다. 이 공모는 SEC에 제출된 효력 있는 선반 등록 서류를 통해 이루어집니다.

Alkami Technology (Nasdaq: ALKT) a annoncé le prix d'une offre secondaire de 7.500.000 actions de capital ordinaire par des actionnaires vendeurs, y compris General Atlantic, S3 Ventures Fund III, George B. Kaiser et Brian R. Smith. Le souscripteur, J.P. Morgan Securities, dispose d'une option de 30 jours pour acheter 1.125.000 actions supplémentaires. L'offre devrait se clôturer le 8 novembre 2024. Alkami ne recevra aucun produit de cette offre, car tous les produits seront versés aux actionnaires vendeurs. L'offre est réalisée par le biais d'une déclaration d'enregistrement de shelf effective déposée auprès de la SEC.

Alkami Technology (Nasdaq: ALKT) gab den Preis für ein sekundäres Angebot von 7.500.000 Aktien von Stammaktien durch verkaufende Aktionäre bekannt, darunter General Atlantic, S3 Ventures Fund III, George B. Kaiser und Brian R. Smith. Der Emissionsgeber, J.P. Morgan Securities, hat eine 30-tägige Option, zusätzliche 1.125.000 Aktien zu kaufen. Das Angebot wird voraussichtlich am 8. November 2024 geschlossen. Alkami wird aus diesem Angebot keine Einnahmen erzielen, da alle Erlöse den verkaufenden Aktionären zufließen werden. Das Angebot erfolgt über eine effektive Shelf-Registrierungsanmeldung, die bei der SEC eingereicht wurde.

Positive
  • None.
Negative
  • Company receives no proceeds from the stock sale
  • Large secondary offering of 7.5M shares could create selling pressure
  • Significant shareholders reducing their positions may signal decreased confidence

Insights

This secondary offering represents a significant insider selling event where major stockholders are divesting 7.5 million shares, with an option for an additional 1.125 million shares. The selling stockholders include notable venture capital firms General Atlantic and S3 Ventures, along with individual investors. This large-scale liquidation could create temporary downward pressure on the stock price due to increased supply.

While the company won't receive any proceeds from this offering, the transaction suggests early investors are taking profits, which could signal their view on current valuation levels. The timing and size of this offering, representing a substantial portion of outstanding shares, warrants attention from current shareholders. The involvement of J.P. Morgan as the sole book-runner indicates institutional interest in facilitating this distribution.

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.

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 30-day option for the underwriter to purchase up to 1,125,000 more shares.

When is Alkami's (ALKT) secondary offering expected to close?

The secondary offering is expected to close on November 8, 2024, subject to customary closing conditions.

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

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

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

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

Alkami Technology, Inc.

NASDAQ:ALKT

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