secwatch.observer — SEC 8-K summary
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Issuer:     ALKAMI TECHNOLOGY, INC. (ALKT)
CIK:        0001529274
Form:       8-K
Filed at:   2023-03-13T23:59:59+00:00
Accession:  0001529274-23-000056
Event type: other_material
Sentiment:  negative
Materiality: 0.50
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Alkami discloses $3.3M deposits and $8.3M sweep accounts at failed Silicon Valley Bank
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- Aggregate $3.3M deposit balance at SVB equals ~2% of total cash and marketable securities reported in 2022 10-K.
- $8.3M in SVB sweep accounts used to purchase external money market mutual funds held by external managers.
- No borrowings under $40M revolver; $84.5M term loan outstanding under credit agreement maturing April 2025.
- SVB licensed certain fraud mitigation products from Alkami for ~$0.5M annual recurring revenue.
- Company ended 2022 with >$196M cash and marketable securities; believes sufficient to reach Adj. EBITDA positive by Q4 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1529274/000152927423000056/0001529274-23-000056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1529274/000152927423000056/alk-20230310.htm
  HTML page:      https://secwatch.observer/filing/0001529274-23-000056

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