Alpha Teknova, a leading producer of critical reagents for the life sciences industry, has announced the successful completion of its private placement. The company issued and sold 12,385,883 shares of its common stock at a purchase price of $1.24 per share, resulting in gross proceeds of approximately $15.4 million.
The private placement was priced based on the Nasdaq Official Closing Price of Teknova’s common stock on July 11, 2024. The funds raised will be used for general corporate purposes, further supporting Teknova’s mission to accelerate the discovery, development, and commercialization of novel therapies, vaccines, and molecular diagnostics.
Teknova, headquartered in Hollister, California, has been at the forefront of innovating the manufacture of critical reagents since 1996. The company offers fully customizable solutions for every stage of the workflow, catering to industry leaders in cell and gene therapy, molecular diagnostics, and synthetic biology.
With over 200,000 square feet of state-of-the-art facilities, Teknova’s modular manufacturing platform is designed to efficiently produce the foundational ingredients necessary for the discovery and commercialization of novel therapies. Their fast turnaround of high-quality agar plates, microbial culture media, buffers, reagents, and water enables customers to seamlessly scale from research use only (RUO) to good manufacturing practice (GMP).
Teknova’s commitment to providing innovative solutions and its dedication to the life sciences industry have positioned the company as a trusted partner for researchers and developers. By supporting the discovery and development of novel therapies, Teknova plays a vital role in helping people live longer and healthier lives.
Forward-looking statements in the press release highlight Teknova’s expectations regarding the anticipated use of proceeds from the offering. While the company believes that its expectations are reasonable, it acknowledges the inherent uncertainties and risks associated with market conditions, demand for its products, global economic uncertainties, and other factors beyond its control.
For more information about Teknova and its offerings, please contact Jennifer Henry, Senior Vice President of Marketing, at jenn.henry@teknova.com or +1 831-313-1259.