Alkami Technology, which provides an online banking SaaS platform to regional banks, announced terms for its IPO on Monday.
The Plano, TX-based company plans to raise $141 million by offering 6 million shares at a price range of $22 to $25. At the midpoint of the proposed range, Alkami Technology would command a fully diluted market value of $2.2 billion.
Alkami states that it enables community, regional, and super-regional financial institutions (FIs) to compete with large, technologically advanced, and well-resourced banks in the US.
Alkami Technology was founded in 2009 and booked $112 million in revenue for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol ALKT. Goldman Sachs, J.P. Morgan and Barclays are the joint bookrunners on the deal. It is expected to price during the week of April 12, 2021.
