Alpha Teknova Prices $40 Million Offering After 22.9% Share Drop
Photo: TokenPost
Alpha Teknova, Inc. priced eight million shares at $5 apiece, targeting $40 million in gross proceeds after an earlier after-hours quote put the stock down 22.9%. At 7:58 p.m. ET (23:58 UTC) Oct. 20, shares were quoted at $5.70, 22.9% below the $7.39 regular-session close. Teknova announced final pricing at 10:30 p.m. ET Oct. 20 (02:30 UTC Oct. 21), so the quote preceded the announcement of the offering terms. Underwriters may buy up to 1.2 million additional shares during a 30-day option period. The company expects the offering to close on or about Oct. 22, subject to customary conditions.
Source: TokenPost
