Alphatec Holdings, Inc. Announces Pricing of Public Offering of Common Stock
July 31 2019 - 9:09AM
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 10,900,000 shares of its common
stock at a public offering price of $4.60 per share. The
offering is expected to close on or about August 2, 2019,
subject to the satisfaction of customary closing conditions. In
connection with the offering, ATEC has granted the
underwriters a 30-day option to purchase up to an additional
1,635,000 shares of common stock in the offering at the public
offering price, less underwriting discounts and commissions.
Piper Jaffray and Canaccord Genuity are acting as
joint book-running managers in the offering. Lake Street Capital
Markets is acting as co-manager in the offering.
ATEC expects to receive gross proceeds of
approximately $50,140,000. 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 offered
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 preliminary
prospectus supplement and accompanying base prospectus relating to
the offering, and a final prospectus supplement and accompanying
base prospectus relating to the offering each contain important
information relating to the ATEC’s shares of common stock. A
preliminary 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. 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 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 ATEC
ATEC, 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 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 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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