Alpha Teknova expands credit facility to $57.135M via amended MidCap term loan and revolver

Alpha Teknova, Inc.

New $57.135M facility comprises $52.135M senior secured term loan and $5M revolver (up from $27M).
Term loan funded in stages: $5.135M immediately, $5M on Oct 31 2022, plus additional tranches through Jan 2024 subject to revenue and liquidity milestones.
Interest on term loan at one-month LIBOR + 6.45% (1% floor); revolver at LIBOR + 3.75% (1% floor); maturity May 1, 2027.
Facility restricts dividends and distributions; contains a trailing 12-month revenue covenant of $42.5M by Dec 31, 2022.
Exit fee of $0.6M (5% of original $12M draw) due at maturity; prepayment penalties of 3%-1% apply.

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