Alkami, a provider of cloud-based digital banking solutions for financial institutions, has announced the pricing of a $300m convertible senior notes offering.
The company has also granted initial purchasers an option to buy up to an additional $45m in notes within 13 days of issuance.
The notes, maturing on 15 March 2030, will bear an interest rate of 1.50% per annum, payable semi-annually in arrears starting on 15 September 2025. Before 15 November 2029, conversions can only occur under specific conditions, while after this date, noteholders can convert at any time before maturity.
The initial conversion rate has been set at 30.4681 shares per $1,000 principal amount, equating to a conversion price of approximately $32.82 per share—representing a 37.5% premium over Alkami’s last reported trading price of $23.87 per share on 10 March 2025.
Alkami offers a selection of digital banking solutions aimed at bringing long-term growth and first-class user experience. Supporting both retail and business banking, its solutions include digital account opening, financial wellness, data and marketing, payments, card experiences, automated billing, reporting and analytics, and more.
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