Hollister-based Alpha Teknova, Inc. announced in a June 24 press release the company was going public June 25 on the Nasdaq Global Market, using the trading ticker TKNO, with an initial offering of 6 million shares of common stock at $16.00 per share.
According to the release, Teknova is a leading provider of critical reagents for the development and production of biopharmaceutical products including drug therapies, novel vaccines and molecular diagnostics. According to the release, the company granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares of common stock are being offered and sold by Teknova.
In August 2016, Ted Davis, Teknova’s founder and president, told BenitoLink that when researchers want to study human genes, they come to Teknova for the many liquids used to purify and study DNA and proteins. At that time there were nearly 100 people, many from the county, who filled every type of job from receptionist to scientist.
By July 2020, the company was playing a key role in responding to the COVID-19 pandemic. It was involved in the global competition among pharmaceutical companies and research institutes to develop vaccines.
Teknova CEO Stephen Gunstream told BenitoLink at that time the increased demand for his company’s products resulted in an immediate need for new hires to fill positions from the loading docks to scientific.
Gunstream was not available to speak about the public offering.
“The San Benito County Business Council is extremely fortunate to have Teknova as a long-standing member,” said Jim Gillio, San Benito County Business Council president. “We are overjoyed seeing their trajectory, supporting their profitable growth in Hollister over the last several years, as well as their announcement and becoming a publicly traded company. Teknova provides exemplary engagement to our schools, getting our students excited about science and research, providing amazing local career opportunities and is always first to help in and around the community.”
Teknova’s common stock began trading on the Nasdaq Global Market on June 25. The gross proceeds of the offering, before deducting underwriting discounts and commissions and offering expenses payable by Teknova, are expected to be approximately $96 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about June 29, subject to the satisfaction of customary closing conditions.
Other related BenitoLink articles:
Teknova hiring spurred by COVID-19
Teknova assists with COVID-19 research
Teknova program connects employees with nonprofits
Teknova hosts tech and science fair
Teknova employees give more each year
Teknova targets local students as internship program expands
Teknova CFO Richard Goozh heads committee to bring high-tech and production jobs to county
Teknova united for community change
City agrees to incentives to keep Teknova, allow expansion, increase local jobs
Teknova grows by 40 percent, wants to expand facilities, double workforce
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