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Product / Company Performance

Alphatec Announces Public Offering of Common Stock -

Alphatec (ATEC) announced an underwritten public offering of 10.9MM shares of common stock at a price of USD $4.60/share. The offering is expected to close in August. ATEC has granted underwriters a 30-day option to purchase up to an additional 1,635,000 shares of common stock in at the public offering price, less underwriting discounts and commissions. ATEC expects gross proceeds of ~ $50.1MM. Net proceeds will support general corporate purposes such as working capital, capital expenditures and continued research and development for products and technologies. A portion may be used to fund investments in or acquisitions of complementary businesses, products or technologies. ATEC does not have any agreements or commitments to complete any such transaction. In early 2Q19, Squadron Capital committed to provide an additional $30MM in secured debt financing to ATEC, beyond the $35MM provided in 4Q18. (Alphatec Spine, 7/31/19)