Alkami Technology Files 8-K/A Amendment

Ticker: ALKT · Form: 8-K/A · Filed: Jul 3, 2024 · CIK: 1529274

Alkami Technology, Inc. 8-K/A Filing Summary
FieldDetail
CompanyAlkami Technology, Inc. (ALKT)
Form Type8-K/A
Filed DateJul 3, 2024
Risk Levelmedium
Pages3
Reading Time4 min
Key Dollar Amounts$0.001, $25,000,000, $65,000,000, $125,000,000, $50,000,000
Sentimentneutral

Sentiment: neutral

Topics: amendment, material-agreement, financial-obligation

Related Tickers: ALKT

TL;DR

Alkami filed an amendment to a material agreement and financial obligation report from July 1st.

AI Summary

Alkami Technology, Inc. filed an amendment (8-K/A) on July 3, 2024, to a previous report concerning events on July 1, 2024. The filing relates to the entry into a material definitive agreement and the creation of a direct financial obligation. Specific details of the agreement and obligation are not provided in this excerpt.

Why It Matters

This amendment indicates a significant change in Alkami Technology's financial obligations or agreements, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Amendments to material definitive agreements and financial obligations can signal significant changes that may affect the company's financial health and stock performance.

Key Numbers

  • 001-40321 — SEC File Number (Alkami Technology's SEC filing identifier)
  • 45-3060776 — IRS Employer Identification Number (Alkami Technology's tax identification number)

Key Players & Entities

  • ALKAMI TECHNOLOGY, INC. (company) — Registrant
  • July 01, 2024 (date) — Earliest event date
  • July 3, 2024 (date) — Filing date
  • Delaware (jurisdiction) — State of Incorporation
  • 5601 Granite Parkway, Suite 120, Plano, TX 75024 (address) — Principal Executive Offices

FAQ

What specific material definitive agreement was entered into by Alkami Technology, Inc. on July 1, 2024?

The provided excerpt does not specify the details of the material definitive agreement.

What is the nature of the direct financial obligation or off-balance sheet arrangement created?

The excerpt states that a direct financial obligation or an obligation under an off-balance sheet arrangement was created, but does not provide specifics.

Why did Alkami Technology, Inc. file an amendment (8-K/A) to its report?

The amendment was filed to update or correct information related to the entry into a material definitive agreement and the creation of a direct financial obligation or off-balance sheet arrangement.

What is the significance of the filing date of July 3, 2024?

July 3, 2024, is the date the amendment (8-K/A) was officially filed with the SEC.

Where are Alkami Technology, Inc.'s principal executive offices located?

Alkami Technology, Inc.'s principal executive offices are located at 5601 Granite Parkway, Suite 120, Plano, TX 75024.

Filing Stats: 912 words · 4 min read · ~3 pages · Grade level 11.6 · Accepted 2024-07-03 16:43:42

Key Financial Figures

  • $0.001 — ange on which registered Common Stock, $0.001 par value per share ALKT The Nasdaq Sto
  • $25,000,000 — quarters free cash flow requirement to $25,000,000". This Amended Report corrects this pre
  • $65,000,000 — unt of the revolving loan commitment by $65,000,000, for a total revolving commitment of $1
  • $125,000,000 — 00, for a total revolving commitment of $125,000,000, (iii) increases the accordion feature
  • $50,000,000 — i) increases the accordion feature from $50,000,000 to $100,000,000 of funds available to r
  • $100,000,000 — e accordion feature from $50,000,000 to $100,000,000 of funds available to request, (iv) mod

Filing Documents

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On July 1, 2024, the Company entered into a Second Amendment (the "Amendment") to the Company's Amended and Restated Credit Agreement dated as of April 29, 2022 (the "Credit Agreement"), with Silicon Valley Bank, a division of First-Citizens Bank & Trust Company, as Administrative Agent, and the other lenders party thereto. The Amendment, among other things, (i) extends the maturity date of the revolving commitment April 29, 2026 to April 29, 2027, (ii) increases the amount of the revolving loan commitment by $65,000,000, for a total revolving commitment of $125,000,000, (iii) increases the accordion feature from $50,000,000 to $100,000,000 of funds available to request, (iv) modifies certain existing covenants including increasing the minimum trailing four quarters free cash flow requirement to $(25,000,000), and (v) for any fiscal quarter ending after the Financial Covenant Trigger Date (which has been extended to April 28, 2026 or such earlier date as designated by the Company), replaces compliance with a fixed charge coverage ratio with compliance of a minimum interest coverage ratio of 3.0x. Except as amended by the Amendment, the remaining terms of the Credit Agreement remain in full force and effect. The material terms of the Credit Agreement are described in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on May 2, 2022 as amended by that certain First Amendment to the Company's Amended and Restated Credit Agreement dated as of June 27, 2023 (and described in the Company's Current Report on Form 8-K filed with the SEC on June 28, 2023). The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is included as Exhibit 10.1, which is incorporated herein by reference. Item 2.03. Creation of a Direct Financial Obligation or an Obliga

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. Exhibit Number Description 10.1* Second Amendment to Amended and Restated Credit Agreement, among Alkami Technology, Inc., as the Borrower, the several Lenders from time to time party thereto and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company, as Administrative Agent, Issuing Lender and Swingline Lender, dated as of July 1, 2024. 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) * Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company will furnish supplementally copies of omitted schedules and exhibits to the Securities and Exchange Commission or its staff upon its request. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Alkami Technology, Inc. Date: July 03, 2024 By: /s/ W. Bryan Hill W. Bryan Hill Chief Financial Officer

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