Alkami Announces 5 Mln Secondary Offering Of Common Stock

(RTTNews) - Alkami Technology, Inc. (ALKT) announced on Friday the pricing details for its previously disclosed underwritten secondary offering of 5 million shares of common stock, which will be sold by the stockholders General Atlantic, L.P., S3 Ventures Fund III, L.P., George B. Kaiser, and Brian R. Smith. Following this news, the stock is down 8% in the pre-market.

The underwriter has been granted a 30-day option to acquire up to an additional 750,000 shares. It is important to note that Alkami will not be selling any shares nor will it receive any proceeds from this offering.

The transaction is anticipated to close on August 12, 2024, with J.P. Morgan Securities serving as the underwriter and sole book-running manager.

In pre-market activity on the Nasdaq, the shares are trading at $30.77, down 8.69%.