ATEC Announces Pricing of Public Offering of Common Stock
25 October 2023 - 1:59PM
Business Wire
Alphatec Holdings, Inc. (“ATEC”) (NASDAQ: ATEC), a provider of
innovative solutions dedicated to revolutionizing the approach to
spine surgery, today announced the pricing of an underwritten
public offering of 14,300,000 shares of its common stock at a
public offering price of $10.50 per share. The offering is expected
to close on October 27, 2023, 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 2,145,000 shares of common stock in the offering at the
public offering price, less underwriting discounts and
commissions.
Morgan Stanley, TD Cowen, Barclays and Stifel are acting as
joint book-running managers in the offering.
ATEC expects to receive gross proceeds from the offering of
approximately $150 million, assuming no exercise of the
underwriters’ option to purchase additional shares.
The shares of common stock are being offered pursuant to a shelf
registration statement on Form S-3 (File No. 333-271336) previously
filed with and declared effective by the Securities and Exchange
Commission (the “SEC”). 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
Morgan Stanley, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, New York 10014; Cowen and Company,
LLC, 599 Lexington Avenue, New York, New York 10022, by telephone
at (833) 297-2926 or by email at prospectus_ecm@cowen.com; or
Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, New York 11717, by telephone at
1-888-603-5847 or by email at
barclaysprospectus@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
ATEC, through its wholly owned subsidiaries, Alphatec Spine,
Inc., EOS imaging S.A.S. 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 Company’s expanding AlphaInformatiX Platform to
better inform surgery and more safely and reproducibly achieve the
goals of spine surgery. ATEC’s vision is to be 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. Forward-looking
statements include, but are not limited to, the Company’s
expectations regarding the completion, timing and size of the
proposed public offering. Important factors that could cause actual
results to differ significantly from those expressed or implied by
such forward-looking statements include, but are not limited to,
risks and uncertainties related to market and other conditions and
the satisfaction of customary closing conditions related to the
proposed public offering. 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 SEC. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231024018696/en/
Company Contact: J. Todd Koning Chief Financial Officer
investorrelations@atecspine.com
Investor/Media Contact: Tina Jacobsen Investor Relations
(760) 494-6790 investorrelations@atecspine.com
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