Alkami issues $345M 1.50% convertible notes due 2030, enters capped call transactions

ALKAMI TECHNOLOGY, INC.

Issued $345M principal of 1.50% convertible senior notes due 2030, including $45M from full greenshoe exercise.
Initial conversion price $32.82/share, a ~37.5% premium over $23.87 closing price on March 10, 2025.
Capped call transactions cost ~$33.9M; cap price $47.74/share (100% premium).
Net proceeds ~$290.3M (or ~$334M if greenshoe fully exercised) to fund MANTL acquisition and general purposes.
Notes mature March 15, 2030; interest payable semi-annually starting Sept 15, 2025.

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