Alkami Technology Enters Material Definitive Agreement

Ticker: ALKT · Form: 8-K · Filed: Jul 2, 2024 · CIK: 1529274

Alkami Technology, Inc. 8-K Filing Summary
FieldDetail
CompanyAlkami Technology, Inc. (ALKT)
Form Type8-K
Filed DateJul 2, 2024
Risk Levelmedium
Pages3
Reading Time3 min
Key Dollar Amounts$0.001, $65,000,000, $125,000,000, $50,000,000, $100,000,000
Sentimentneutral

Sentiment: neutral

Topics: debt, financing, material-agreement

Related Tickers: ALKT

TL;DR

Alkami just signed a big new loan agreement, filing it today.

AI Summary

On July 1, 2024, Alkami Technology, Inc. entered into a material definitive agreement, specifically a credit agreement, which creates a direct financial obligation. The company, headquartered in Plano, Texas, filed this 8-K report with the SEC on July 2, 2024, detailing this significant financial commitment.

Why It Matters

This filing indicates Alkami Technology, Inc. has entered into a new financial obligation, which could impact its capital structure and future financial flexibility.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can introduce leverage and repayment risks, impacting the company's financial health.

Key Players & Entities

  • ALKAMI TECHNOLOGY, INC. (company) — Registrant
  • July 01, 2024 (date) — Date of earliest event reported
  • July 02, 2024 (date) — Date of report
  • Plano, TX (location) — Principal Executive Offices

FAQ

What type of material definitive agreement did Alkami Technology, Inc. enter into?

Alkami Technology, Inc. entered into a credit agreement, as indicated by the filing.

When was the earliest event reported in this 8-K filing?

The earliest event reported was on July 01, 2024.

What is the principal executive office address for Alkami Technology, Inc.?

The principal executive office is located at 5601 Granite Parkway, Suite 120, Plano, TX 75024.

What is the SEC file number for Alkami Technology, Inc.?

The SEC file number for Alkami Technology, Inc. is 001-40321.

What is the IRS Employer Identification Number for Alkami Technology, Inc.?

The IRS Employer Identification Number for Alkami Technology, Inc. is 45-3060776.

Filing Stats: 804 words · 3 min read · ~3 pages · Grade level 11.8 · Accepted 2024-07-02 16:05:40

Key Financial Figures

  • $0.001 — ange on which registered Common Stock, $0.001 par value per share ALKT The Nasdaq Sto
  • $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
  • $25,000,000 — quarters free cash flow requirement to $25,000,000, and (v) for any fiscal quarter ending

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 Obligati

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 s everal 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 02, 2024 By: /s/ W. Bryan Hill W. Bryan Hill Chief Financial Officer

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