Alkami Technology (ALKT) said late Monday it priced a private offering of $300 million of its 1.5% convertible senior unsecured notes due 2030.
The company granted the initial purchasers a 13-day option to buy up to an additional $45 million of the notes. The issuance is expected to settle on Thursday.
The initial conversion rate is 30.4681 shares of common stock per $1,000 of notes, which represents an initial conversion price of about $32.82 per share.
Alkami said it will use about $29.5 million of the net proceeds to fund certain capped call transactions and the remainder, together with cash on hand, to fund its pending acquisition of Fin Technologies. The company expects to use any remaining net proceeds for general corporate purposes.
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