Alpha Teknova to sell 1.086M shares at $1.85 in registered direct offering

Alpha Teknova entered into definitive agreements for the issuance and sale of an aggregate of up to 1,086,485 of its shares of common stock in a registered direct offering at a purchase price of $1.85 per share. In a concurrent private placement, Teknova has also agreed to issue and sell an aggregate of up to 11,299,993 of its shares of common stock, at the same purchase price of $1.85 per share as in the registered direct offering. The registered direct offering and the private placement were priced based on the consolidated closing bid price under Nasdaq rules. The offerings are expected to close on or about September 19, 2023, subject to the satisfaction of customary closing conditions. The gross proceeds to Teknova from the concurrent offerings are expected to be up to approximately $22.915 million, before deducting offering expenses payable by Teknova. Teknova currently intends to use the net proceeds from the offerings for general corporate purposes.