09:37 AM EDT, 08/09/2024 (MT Newswires) -- Alkami Technology ( ALKT ) said early Friday it has priced a previously announced underwritten secondary offering of 5 million shares being sold by entities affiliated with stakeholders in the digital banking company, including General Atlantic and the S3 Ventures Fund III.

The secondary offering is expected to close Aug. 12. The underwriter has a 30-day option to purchase up to 750,000 additional shares from the selling stockholders at the offering price minus its underwriting discount.

The selling stockholders will receive all the net proceeds of the offering. The company said it will not sell any shares nor receive any proceeds from the secondary offering.

Alkami ( ALKT ) shares fell 9% in recent early Friday trading.

Price: 30.64, Change: -3.06, Percent Change: -9.08