Teknova Announces Closing of Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
Alpha Teknova, Inc. (Nasdaq: TKNO) announced the closing of its initial public offering (IPO) on June 29, 2021, selling 6,900,000 shares at $16.00 each. The offering included 900,000 shares from underwriters' options, generating approximately $110.4 million in gross proceeds. The shares began trading on Nasdaq on June 25, 2021. Cowen and William Blair acted as joint book-running managers for the offering. Teknova specializes in critical reagents for biopharmaceutical products and aims to expedite clinical breakthroughs in life sciences.
- Gross proceeds from the IPO were approximately $110.4 million.
- Increased visibility and liquidity for Teknova in the market.
- The IPO supports Teknova's growth and development in biopharmaceuticals.
- Issuing new shares may lead to potential shareholder dilution.
HOLLISTER, Calif., June 29, 2021 (GLOBE NEWSWIRE) -- Alpha Teknova, Inc. (“Teknova”) (Nasdaq: TKNO), a leading provider of critical reagents for the development and production of biopharmaceutical products including drug therapies, novel vaccines, and molecular diagnostics, today announced that on June 29, 2021, it closed its previously announced initial public offering of 6,900,000 shares of its common stock, at a price to the public of
The aggregate gross proceeds to Teknova from the offering, before deducting the underwriting discounts and commissions and other offering expenses payable by Teknova, were approximately
Cowen and William Blair acted as joint book-running managers for the offering. BTIG and Stephens Inc. acted as co-managers. Paul Hastings LLP provided legal counsel to Teknova and DLA Piper LLP (US) provided legal counsel to the underwriters. Perella Weinberg Partners acted as capital markets adviser to Teknova.
A registration statement on Form S-1 relating to these securities was declared effective by the Securities and Exchange Commission (“SEC”) on June 24, 2021. Copies of the registration statement can be accessed by visiting the SEC’s website at www.sec.gov. The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained by contacting: Cowen and Company, LLC, c/o Broadridge Financial Services, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717; or William Blair & Company, LLC, Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606. Electronic copies of the final prospectus are also available on the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Teknova
Teknova is expediting clinical breakthroughs in the life sciences by providing custom products and reagents for bioprocessing, bioproduction, and molecular diagnostics. With a focus on agility and customization, Teknova delivers research-grade and GMP products including cell culture media and supplements, protein and nucleic acid purification buffers, and molecular biology reagents for a multitude of established and emerging applications, including cell and gene therapy, mRNA therapeutics, genomics, and synthetic biology. Teknova's proprietary processes enable the manufacture and delivery of high quality, custom, made-to-order products on short turnaround times and at scale across all stages of development, including commercialization.
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