Alkami Technology, Inc. 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 issuance and sale of the notes are scheduled to settle on March 13, 2025, subject to customary closing conditions.
The notes will be senior, unsecured obligations of Alkami, accruing interest at 1.50% per annum, payable semi-annually, and will mature on March 15, 2030. The initial conversion rate is 30.4681 shares of common stock per $1,000 principal amount, representing an initial conversion price of approximately $32.82 per share, a 37.5% premium over the March 10, 2025 closing price.
Alkami estimates net proceeds of approximately $290.3 million, with $29.5 million allocated to fund capped call transactions designed to reduce potential dilution. The remaining proceeds, along with cash on hand, are intended to fund the previously announced acquisition of MANTL and for general corporate purposes, supporting Alkami's strategic expansion.
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