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Home IPOs

Teknova Announces Pricing of its Upsized Initial Public

MtR by MtR
June 25, 2021
in IPOs
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HOLLISTER, Calif., June 24, 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 the pricing of its upsized initial public offering of 6,000,000 shares of its common stock at a price to the public of $16.00 per share. Additionally, Teknova has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares of common stock are being offered and sold by Teknova.

Teknova’s common stock is expected to begin trading on the Nasdaq Global Market on Friday, June 25, 2021, under the symbol “TKNO.” The gross proceeds of the offering, before deducting underwriting discounts and commissions and offering expenses payable by Teknova, are expected to be approximately $96.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about June 29, 2021, subject to the satisfaction of customary closing conditions.

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Cowen and William Blair are acting as joint book-running managers for the offering. BTIG and Stephens Inc. are acting 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 is being made only by means of a prospectus. A preliminary prospectus describing the terms of the offering has been filed with the SEC and forms a part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained, when available, 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 will also be 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.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” These statements include, but are not limited to, statements relating to the anticipated size of the initial public offering and the expected trading commencement and closing dates. The words, without limitation, “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: uncertainties related to market conditions, the satisfaction of customary closing conditions related to the initial public offering, the completion of the initial public offering on the anticipated terms, or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus that forms a part of the effective registration statement filed with the SEC. Any forward-looking statements contained in this press release are based on the current expectations of the Company’s management team and speak only as of the date hereof, and Teknova specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

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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