Alpha Teknova, which provides reagents and other materials for biopharmaceutical R&D applications, announced terms for its IPO on Monday.
The Hollister, CA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Alpha Teknova would command a fully diluted market value of $425 million.
Alpha 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 offers three primary product types: pre-poured media plates for cell growth and cloning, liquid cell culture media and supplements for cellular expansion, and molecular biology reagents for sample manipulation, resuspension, and purification. As of March 31, 2021, Alpha Teknova had over 3,000 active customers.
Alpha Teknova was founded in 2000 and booked $34 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol TKNO. Cowen, and William Blair are the joint bookrunners on the deal. It is expected to price during the week of June 21, 2021.
