Alpha Teknova prices a $40 million stock offering at $5.00 a share

Alpha Teknova priced an underwritten common-stock offering at $5.00 a share on October 20, 2026, selling 8,000,000 shares for $40 million in gross proceeds before fees, and paired the raise with an investor presentation that puts preliminary third-quarter revenue at $12.5 million to $12.7 million.

Teknova announced the launch and the pricing of the deal in two exhibits dated October 20, 2026, both attached to the same Form 8-K. The launch release gives no size and no price, and warns that “there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering”. The pricing release supplies the terms: 8,000,000 shares at $5.00, gross proceeds of $40 million before underwriting discounts, commissions and offering expenses, and a 30-day option on 1,200,000 additional shares, equal to 15.0% of the base deal. Teknova expects the offering to close on or about October 22, 2026, subject to customary closing conditions.

TD Cowen and William Blair are joint book-running managers, Craig-Hallum is lead manager, Stephens Inc. and Roth Capital Partners are co-managers, and Perrella Weinberg Partners is financial adviser. The shares come off a shelf registration statement on Form S-3 that Teknova filed on July 10, 2025, which the SEC declared effective on July 16, 2025; the terms are described in a preliminary prospectus supplement filed with the pricing release.

Proceeds for debt repayment and general corporate purposes

Teknova says the net proceeds are intended for general corporate purposes, including potentially repaying outstanding debt, and that it may put a portion toward acquisitions or investments in complementary businesses, products and technologies, though it discloses no current commitments or arrangements to do so. The balance sheet gives the raise its context: cash, cash equivalents and short-term investments stood at $16.6 million on September 30, 2026, against $17.4 million on June 30, 2026, while the company targets free cash outflow of less than $8 million for the whole of 2026.

Preliminary third-quarter revenue of $12.5 million to $12.7 million

The third exhibit is an investor presentation dated October 2026, and it carries the only operating numbers in the filing — preliminary figures rather than a complete quarterly income statement. It puts third-quarter revenue at $12.5 million to $12.7 million, up 19% to 21% from a year earlier, on gross margin of 36.0% to 38.0%, an expansion of 500 to 700 basis points from the same period a year earlier, and an Adjusted EBITDA loss of $1.2 million to $1.0 million that it says should narrow. The $12.6 million midpoint sits 3.3% above the $12.2 million booked in the second quarter, which was itself 18% above the $10.3 million of a year earlier. The presentation adds that the “Adjusted EBITDA loss expected to improve by at least 25% compared to same period prior year”.

Guidance restated, and the limits of the file

The guidance page is headed with the company “Raising fiscal 2026 outlook for revenue and improving outlook for Free Cash Outflow”. The numbers beneath it put total revenue at $45 million to $47 million for the year ending December 31, 2026, up 14% year over year at the midpoint, with free cash outflow targeted below $8 million, and the same page repeats the target of an Adjusted EBITDA-positive quarter before the end of 2027.

What the filing leaves out matters as much. None of the three exhibits states shares outstanding, so the dilution from 8,000,000 new shares cannot be computed from these documents, and no trading price or market reaction appears in them. The debt that may be repaid is not described. The next dated event is the expected close on or about October 22, 2026; the final third-quarter numbers will arrive in the quarterly report that follows, and the presentation's own figures are estimates the company can still revise.