03:18 AM EDT, 08/09/2024 (MT Newswires) -- Alkami Technology ( ALKT ) said late Thursday it is launching an underwritten secondary offering of 5 million shares.

The company said the sellers of the securities include entities affiliated with General Atlantic, L.P. and S3 Ventures Fund III.

The selling stockholders expect to grant the underwriter a 30-day option to purchase up to 750,000 additional shares.

The company will neither sell shares in the offering nor receive any proceeds from the sale.

Shares of the company fell 3.6% in after-hours activity Thursday.

Price: 32.50, Change: -1.20, Percent Change: -3.56