Alphatec Holdings, Inc. Announces Closing of Public Stock Offering and Full Exercise of Underwriters’ Option to Purchase Ad...
August 02 2019 - 4:05PM
Alphatec Holdings, Inc. (“ATEC”) (NASDAQ: ATEC), a provider of
innovative spine surgery solutions dedicated to revolutionizing the
approach to spine surgery, today announced the closing of its
previously announced underwritten public offering of 12,535,000
shares of its common stock at a public offering price of $4.60
per share, which includes the full exercise of the underwriters’
option to purchase 1,635,000 additional shares of common stock to
cover over-allotments.
Piper Jaffray and Canaccord Genuity acted as
joint book-running managers in the offering. Lake Street Capital
Markets acted as co-manager in the offering.
ATEC received gross proceeds
of $57,661,000. ATEC intends to use the net proceeds
from the offering, after deducting underwriting discounts and
commissions and estimated offering expenses payable by ATEC,
for general corporate purposes, including working capital, capital
expenditures, and continued research and development with respect
to products and technologies. A portion of the net proceeds of the
offering may be used to fund possible investments in or
acquisitions of complementary businesses, products, or
technologies. ATEC currently does not have any agreements or
commitments to complete any such transaction.
The shares of common stock are being issued and
sold pursuant to a shelf registration statement on Form S-3 (File
No. 333-221085) previously filed with and declared effective by
the Securities and Exchange Commission. A final prospectus
supplement and accompanying base prospectus relating to the
offering each contain important information relating to ATEC’s
shares of common stock. A final prospectus supplement and
accompanying prospectus relating to the offering have been filed
with the SEC and are available on the SEC’s website at www.sec.gov,
and may also be obtained from Piper Jaffray & Co., Attention:
Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN
55402, via telephone at (800) 747-3924 or via email at
prospectus@pjc.com; or from Canaccord Genuity LLC, Attention:
Syndicate Department, 99 High Street, Suite 1200, Boston, MA 02110,
or by email at prospectus@cgf.com, or by phone at (617)
371-3900.
This press release shall not constitute an offer
to sell nor the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. About ATECATEC,
through its wholly-owned subsidiaries, Alphatec Spine, Inc. and
SafeOp Surgical, Inc., is a provider of innovative spine surgery
solutions dedicated to revolutionizing the approach to spine
surgery. ATEC designs, develops and markets spinal fusion
technology products and solutions for the treatment of spinal
disorders associated with disease and degeneration, congenital
deformities and trauma. ATEC markets its products in the U.S. via
independent sales agents and a direct sales force. Additional
information can be found at www.atecspine.com.
Forward-Looking StatementsThis
press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995
that involve risks and uncertainty. Such statements are based on
management's current expectations and are subject to a number of
risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
ATEC cautions investors that there can be no assurance that actual
results or business conditions will not differ materially from
those projected or suggested in such forward-looking statements as
a result of various factors. The words “believe,” “will,” “should,”
“expect,” “intend,” “estimate,” “look forward” and “anticipate,”
variations of such words and similar expressions identify
forward-looking statements, but their absence does not mean that a
statement is not a forward-looking statement. A further list and
description of these and other factors, risks and uncertainties can
be found in ATEC’s most recent annual report, any subsequent
quarterly and current reports, and certain other filings, filed
with the Securities and Exchange Commission. ATEC disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events,
or otherwise, unless required by law.
Company Contact:
Jeff Black
Chief Financial Officer
(760) 494-6715
ir@atecspine.com
Investor/Media Contact:
Tina Jacobsen
Investor Relations
(760) 494-6790
ir@atecspine.com
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