Alkami Technology extends credit facility a year, tweaks covenants

By Wendy Van Sickle

Columbus, Ohio, June 28 – Alkami Technology, Inc. entered into an amendment to its amended and restated credit agreement dated April 29, 2022 with Silicon Valley Bank as administrative agent on June 27 to extend the maturity date by a year to April 29, 2026, according to an 8-K filing with the Securities and Exchange Commission.

Additionally, a free cash flow financial covenant was added; a total leverage ratio and a fixed-charge coverage ratio for each fiscal quarter ending on or after April 29, 2025, which is the date when the existing annual recurring revenue growth and liquidity financial covenants are no longer applicable, were added; and the applicable margin grid was updated to become based on the total leverage ratio on and after April 29, 2025.

Alkami Technology is a cloud-based digital banking platform.

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