Alkami Worth $3 Billion in Market Debut

Alkami Technology is worth $3 billion in U.S. market debut as shares surge 38 percent. The company's common stock began trading publicly on The Nasdaq Global Select Market on April 14 under the ticker symbol “ALKT.”

The banking software firm, which has more than 160 financial institutions using its cloud-based digital banking services, sold six million shares in the IPO. Shares opened at $41.26, which is above their IPO of $30. The company raised $180 million in the IPO. Alkami works to help smaller financial firms compete with big banks. Their investors include General Atlantic and D1 Capital.

Their listing comes amid a surge in valuations of technology companies that enable secure, remote-working solutions for businesses during the COVID-19 pandemic. The company select...

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