Teknova Closes $110 Million Upsized Initial Public Offering
Palo Alto – Paul Hastings LLP, a leading global law firm, announced today that the firm represented Alpha Teknova, Inc. (Teknova) in its initial public offering and Nasdaq listing. Teknova raised over $110 million in gross proceeds in the IPO, with 6,900,000 shares of its common stock, sold at a price of $16.00 per share. The closing included 900,000 shares sold upon full exercise of the underwriters’ option to purchase additional shares of common stock in the offering. The shares began trading on the Nasdaq Global Market on Friday, June 25, 2021, under the ticker symbol “TKNO.”
Teknova is a leading provider of critical reagents that enable the discovery, research, development and production of biopharmaceutical products such as drug therapies, novel vaccines and molecular diagnostics. The company intends to use the proceeds to, among other things, increase its manufacturing capacity and capabilities, develop new products and services and pursue acquisition opportunities. Cowen and William Blair acted as joint book-running managers for the IPO.
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