Alkami Technology’s $180 Million Initial Public Offering

Latham & Watkins LLP represented Alkami in the offering, Davis Polk advised the representatives of the several underwriters.

Alkami Technology, Inc., a leading cloud-based digital banking solutions provider for US-based financial institutions, has announced the pricing of its initial public offering of 6,000,000 shares of its common stock at a public offering price of US$30 per share. All of the shares of common stock are being offered by Alkami. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Alkami, are expected to be approximately US$180 million. Alkami’s common stock began trading on The Nasdaq Global Select Market on April 14, 2021, under the ticker symbol “ALKT.” The offering is expected to close on April 16, 2021, subject to the satisfaction of customary closing conditions. In addition, Alkami has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Barclays Capital Inc., William Blair & Company, L.L.C., Citigroup Global Markets Inc., JMP Securities LLC, KeyBanc Capital Markets Inc. and Needham & Company, LLC acted as underwriters for the offering.

Latham & Watkins LLP represented Alkami in the offering with a capital markets team led by Bay Area partners Tad Freese (Picture) and Kathleen Wells and Washington, D.C. partner Joel Trotter, with Bay Area associate Casey Tong and Washington, D.C. associates Jill Rubinger, Darren Jackson, and Taylor Allison. Advice was also provided on benefits and compensation matters by Bay Area partner Jay Metz, with Bay Area associate James Robinson; and on tax matters by Bay Area partner Grace Lee, with Bay Area associate Greg Conyers.

Davis Polk advised the representatives of the several underwriters with partner Alan F. Denenberg and associates Benson Richards and Sylvia Zaich. The intellectual property and technology transactions team included partner Pritesh P. Shah and associates Mikaela Dealissia and Chelsea Renter. The tax team included partner Mario J. Verdolini. Counsel Marcie A. Goldstein provided FINRA advice. Associate Brantley Hawkins provided 1940 Act advice.

Involved fees earner: Mikaela Dealissia – Davis Polk & Wardwell; Alan Denenberg – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Brantley Hawkins – Davis Polk & Wardwell; Chelsea Renter – Davis Polk & Wardwell; Benson Richards – Davis Polk & Wardwell; Pritesh P. Shah – Davis Polk & Wardwell; Mario Verdolini – Davis Polk & Wardwell; Sylvia Zaich – Davis Polk & Wardwell; Taylor Allison – Latham & Watkins; Gregory Conyers – Latham & Watkins; Tad Freese – Latham & Watkins; Darren Jackson – Latham & Watkins; Grace Lee – Latham & Watkins; James Metz – Latham & Watkins; James Robinson – Latham & Watkins; Jill Rubinger – Latham & Watkins; Casey Tong – Latham & Watkins; Joel Trotter – Latham & Watkins; Kathleen Wells – Latham & Watkins;

Law Firms: Davis Polk & Wardwell; Latham & Watkins;

Clients: Alkami Technology; Barclays Capital ; Citigroup Global Markets Ltd; Goldman Sachs & Co.; J.P. Morgan Securities LLC; JMP Securities LLC; KeyBanc Capital Markets; Needham & Company; William Blair & Company, L.L.C.;

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Author: Martina Bellini