Teknova Prices 8 Million Shares At $5.00 For $40 Million, And Previews Third-Quarter Revenue Up 19% To 21%
The reagents maker also estimated a third-quarter adjusted EBITDA loss and $16.6 million in cash as of September 30.
Alpha Teknova priced an underwritten offering of 8,000,000 common shares at $5.00 each, for gross proceeds of $40 million, according to an 8-K filed Wednesday. The same filing carries preliminary third-quarter results: revenue of $12.5 million to $12.7 million and an adjusted loss.
The offering
The underwriters agreed to buy the shares from Teknova at $4.70 each. Gross proceeds are before underwriting discounts, commissions and other expenses. They also hold a 30-day option to buy up to 1,200,000 more shares, which the company's launch release sized at 15% of the shares offered.
TD Securities (USA) and William Blair are the representatives of the underwriters. Teknova is the only seller, and the offering is expected to close on or about October 22, 2026.
The company intends to use the net proceeds for general corporate purposes, including potentially repaying debt. It may also spend some on buying or investing in complementary businesses, though it says it has no current commitments to do so. The company's directors and executive officers signed lock-up agreements that generally bar them from selling company securities before January 19, 2027, without the underwriters' consent.
The preliminary third quarter
Teknova estimates revenue for the three months ended September 30 at $12.5 million to $12.7 million, with gross margin of 36.0% to 38.0%. Adjusted EBITDA, a measure of earnings before interest, taxes, depreciation, amortization and stock pay, is estimated at a loss of $1.2 million to $1.0 million. Net loss is estimated at $3.694 million to $3.494 million.
Cash and short-term investments were an estimated $16.6 million at September 30. Teknova's investor presentation puts the figure at June 30 at $17.4 million.
The presentation says revenue rose 19% to 21% from a year earlier. It says Clinical Solutions revenue grew by high double digits, its highest in over 3 years. It also says the adjusted EBITDA loss is expected to improve by at least 25% from the prior-year quarter.
The numbers are unaudited. The company says its auditor has not reviewed them and that they may change materially once financial closing and the quarterly review are complete.
What to watch
The offering is due to close on or about Thursday. Teknova's full third-quarter financial statements will show whether the estimates hold.
The same presentation repeats a target of an adjusted-EBITDA-positive quarter before the end of 2027.
Sources
- 8-K Filing — Alpha Teknova, Inc. (TKNO) — SEC EDGAR
- Exhibit d170994dex991.htm — Alpha Teknova, Inc. 8-K exhibit — SEC EDGAR
- Exhibit d170994dex992.htm — Alpha Teknova, Inc. 8-K exhibit — SEC EDGAR
- Exhibit d170994dex993.htm — Alpha Teknova, Inc. 8-K exhibit — SEC EDGAR
- Teknova Announces Proposed Public Offering of Common Stock — Yahoo Finance
- Teknova files for equity offering, shares down 22% (TKNO:NASDAQ) | Seeking Alpha — seekingalpha.com
- Alpha Teknova Announces Underwritten Public O... — benzinga.com
- Teknova Announces Pricing of $40 Million Public Offering of — globenewswire.com
- Teknova Announces Preliminary Third Quarter Financial — globenewswire.com
