Alpha Teknova amends credit agreement via MidCap Financial

By Wendy Van Sickle

Columbus, Ohio, Sept. 19 – Alpha Teknova, Inc. amended its credit agreement with MidCap Financial Trust to lower covenants for minimum net revenue and minimum cash, according to a news release.

In return, Alpha Teknova agreed to an increase of the exit fee and restricted access to the revolving facility until Alpha Teknova achieves a minimum net revenue trigger. Alpha Teknova has repaid $10 million of principal balance on its term loan to MidCap in connection with the amendment.

Based in Hollister, Calif., Alpha Teknova manufactures critical reagents for the life sciences industry to accelerate the discovery and development of novel therapies.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.