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.