The previous range was $22 to $25 a share.
With an expected offering of 6 million shares, that translates to $156 million to $168 million in total dollars raised. With 83.14 million shares expected to be outstanding after the IPO, according to MarketWatch, that would value the company at $2.16 billion to $2.33 billion.
The stock is slated to trade on the Nasdaq.
The company reported revenue of $112.1 million for 2020, jumping 53% from $73.5 million in 2019. Alkami suffered a net loss of $56.6 million in 2020, widening from $43.1 million a year earlier.
“Alkami is a cloud-based digital banking platform. We inspire and empower community, regional and super-regional financial institutions to compete with large, technologically advanced and well-resourced banks in the U.S.,” the company said in its prospectus.
“Our solution, the Alkami Platform, allows financial institutions to onboard and engage new users, accelerate revenues and meaningfully improve operational efficiency, all with the support of a proprietary, true cloud-based, multi-tenant architecture.”
As for risks, the company said that “our limited operating history makes it difficult to evaluate our current business and future prospects, and our recent success may not be indicative of our future results of operations."
In other IPO news, Chinese ride-hailing giant Didi Chuxing has filed confidentially for a U.S. IPO that could give it a valuation of $70 billion to $100 billion, knowledgeable sources told Bloomberg.
And TheStreet.com founder Jim Cramer offered IPO investment advice last month.