ATEC Announces Pricing of Public Offering of Common Stock
October 14 2020 - 12:58AM
Alphatec Holdings, Inc. (“ATEC”) (NASDAQ: ATEC), a provider of
innovative spine surgery solutions dedicated to revolutionizing the
approach to spine surgery, today announced the pricing of an
underwritten public offering of 11,428,570 shares of its common
stock at a public offering price of $8.75 per share.
The gross proceeds to ATEC from the offering,
before underwriting discounts and commissions and estimated
offering expenses, are expected to be approximately $100 million.
In connection with the offering, ATEC has granted the
underwriters a 30-day option to purchase up to an additional
1,714,285 shares of common stock at the public offering price, less
underwriting discounts and commissions. All of the shares in
the offering are to be sold by ATEC. The offering is expected to
close on October 16, 2020, subject to the satisfaction of customary
closing conditions.
Morgan Stanley and Cowen are acting as
joint book-running managers in the offering. Canaccord Genuity
is acting as lead manager in the offering, with Lake Street Capital
Markets and Northland Capital Markets acting as
co-managers.
The shares of common stock are being offered
pursuant to a shelf registration statement on Form S-3 (File
No. 333-241677) previously filed with and declared effective
by the Securities and Exchange Commission. The offering is
being made only by means of a prospectus supplement and the
accompanying prospectus. A preliminary prospectus supplement and
accompanying prospectus relating to the offering have been
previously filed with the SEC and are available on the
SEC’s website at www.sec.gov. The final prospectus supplement
and accompanying base prospectus will be filed with
the SEC and available on the SEC’s website thereafter,
and, when available, may also be obtained from Morgan Stanley
& Co. LLC, Attention: Prospectus Department, 180 Varick Street,
2nd Floor, New York, New York 10014, or by e-mail at
prospectus@morganstanley.com or Cowen and Company, LLC, at c/o
Broadridge Financial Solutions, Attn: Prospectus Department, 1155
Long Island Avenue, Edgewood, NY 11717, by telephone at (833)
297-2926 or by email at PostSaleManualRequests@broadridge.com.
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 ATEC
Alphatec Holdings, Inc. (ATEC), through its
wholly-owned subsidiaries, Alphatec Spine,
Inc. and SafeOp Surgical, Inc., is a medical device
company dedicated to revolutionizing the approach to spine surgery
through clinical distinction. ATEC’s Organic Innovation
Machine is focused on developing new approaches that integrate
seamlessly with the SafeOp Neural InformatiX System to safely and
reproducibly treat spine’s various pathologies and achieve the
goals of spine surgery. Alphatec’s vision is to become the
Standard Bearer in Spine.
Forward-Looking Statements
This 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 BlackChief
Financial Officerinvestorrelations@atecspine.com
Investor/Media Contact:Tina
JacobsenInvestor Relations(760)
494-6790investorrelations@atecspine.com
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