Alpha Teknova, Inc. (“Teknova”) (Nasdaq: TKNO), a leading producer of critical reagents for the discovery, development, and commercialization of novel therapies, vaccines, and molecular diagnostics, today announced that it has entered into a definitive agreement for the issuance and sale of an aggregate 12,385,883 of its shares of common stock in a private placement at a purchase price of $1.24 per share. The private placement was priced based on the Nasdaq Official Closing Price of Teknova’s common stock on July 11, 2024.
The private placement is expected to close on or about July 12, 2024, subject to the satisfaction of customary closing conditions. The gross proceeds to Teknova from the private placement are expected to be approximately $15.4 million, before deducting offering expenses payable by Teknova. Teknova currently intends to use the net proceeds from the private placement for general corporate purposes.
The offer and sale of the securities in the private placement are being made in transactions not involving a public offering and have not been registered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and/or Rule 506(b) of Regulation D promulgated thereunder and have not been registered under the Securities Act or applicable state securities laws. Accordingly, the securities in the private placement may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
Teknova has agreed to file an initial registration statement with the Securities and Exchange Commission (the “SEC”) covering the resale of the securities to be issued in the private placement no later than 45 days following the date of the definitive agreement and to use commercially reasonable efforts to have the registration statement declared effective as promptly as practical thereafter, and in any event no later than 120 days after the date of the definitive agreement in the event of a “full review” by the SEC.