ALKAMI TECHNOLOGY, INC. (ALKT) plans to raise $141 million in an initial public offering (IPO) on Wednesday, April 14th, IPO Scoop reports. The company will issue 6,000,000 shares at $22.00-$25.00 per share.
In the last year, ALKAMI TECHNOLOGY, INC. generated $112.1 million in revenue and had a net loss of $51.4 million. ALKAMI TECHNOLOGY, INC. has a market-cap of $2 billion.
Goldman Sachs, J.P.Morgan, Barclays, Citigroup and William Blair acted as the underwriters for the IPO and JMP Securities, KeyBanc Capital Markets and Needham & Co. were co-managers.
ALKAMI TECHNOLOGY, INC. provided the following description of their company for its IPO: ” Our mission is to empower financial institutions to grow confidently, adapt quickly and build thriving digital communities. Alkami is a cloud-based digital banking platform. We inspire and empower community, regional and super-regional financial institutions (“FIs”) to compete with large, technologically advanced and well-resourced banks in the United States. Our solution, the Alkami Platform, allows FIs to onboard and engage new users, accelerate revenues and meaningfully improve operational efficiency, all with the support of a proprietary, true cloud-based, multi-tenant architecture. We cultivate deep relationships with our clients through long-term, subscription-based contractual arrangements, aligning our growth with our clients’ success and generating an attractive unit economic model. In the early 2000s, digital engagement began revolutionizing industries overnight, forcing firms to invest and innovate or risk losing long-term relationships to well-resourced competitors. Within banking, many FIs were ill-equipped to compete with larger competitors, including the largest banks in the world, such as J.P. Morgan Chase, Bank of America, Citigroup and Wells Fargo (collectively, “megabanks”), primarily due to resource constraints and the resulting inability to keep pace, technologically, with evolving consumer preferences for digital engagement. This led to the first digital banking platforms. We founded Alkami to help level the playing field for FIs. Our vision was to create a platform that combined premium technology and FinTech solutions in one integrated ecosystem, delivered as a SaaS solution and providing our clients’ customers with a single point of access to all things digital. (SaaS stands for Software-as-a-Service.) “.
ALKAMI TECHNOLOGY, INC. was founded in 2009 and has 609 employees. The company is located at 5601 Granite Parkway, Suite 120 Plano, Texas 75024 and can be reached via phone at (877) 725-5264 or on the web at http://www.alkami.com/.
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