By Colin Kellaher
Alpha Teknova shares moved lower in premarket trading Monday after the reagents maker said it was raising up to $22.9 million through the sale of stock.
The Hollister, Calif., company said it plans to sell up to around 12.4 million shares in a private placement and a registered direct offering at $1.85 a share, in line with Friday’s closing price.
Shares of Alpha Teknova, which had about 28.3 million shares outstanding before the stock sales, were recently down 9.2% at $1.68 in premarket trading.
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