UNDERWRITER
Alkami Technology
Debt Capital Markets
Convertible Senior Notes
Transaction Details
On March 10, 2025, Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., today announced the pricing of its offering of $300,000,000 aggregate principal amount of 1.50% convertible senior notes due 2030 in a private offering (the "Offering") to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
Alkami expects to use approximately $29.5 million of the net proceeds from the Offering to fund the cost of entering into the capped call transactions, and the remainder, together with cash on hand, which may include proceeds from drawing on Alkami's existing credit facility, and restricted stock units issued to continuing employees of Fin Technologies, Inc. dba MANTL ("MANTL"), to fund the previously announced pending acquisition of MANTL.
About the company
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 analytics and marketing solutions. For more information, visit alkami.com.
Sources: Company Materials and Press Release.
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