Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions related to the aging spine, announced the closing of its previously announced public offering of 16,000,000 shares of its common stock, consisting of 8,000,000 primary shares sold by the Company and 8,000,000 shares sold by a selling shareholder, HealthpointCapital Partners, L.P. In addition, the Company announced that the underwriters exercised in full their over allotment option to purchase an additional 1,200,000 shares of common stock from each of the Company and the selling shareholder (2,400,000 shares in the aggregate). The price to the public in the offering was $5.00 per share. The Company's net proceeds from the sale of the 9,200,000 shares sold by it, including the shares sold pursuant to the over allotment option, after underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $42.5 million. The Company will not receive any proceeds from the sale of the shares by the selling shareholder.
Jefferies & Company, Inc. acted as lead book-running manager for the offering, with Canaccord Adams Inc. as joint book-running manager and Cowen and Company, LLC and Lazard Capital Markets LLC as co-managers.
The securities described above were offered pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission on April 9, 2010. Copies of the final prospectus supplement relating to these securities may be obtained from Jefferies & Company, Inc., Attention: Syndicate Prospectus Department, 520 Madison Avenue, New York, NY, 10022 and at (888) 449-2342. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Alphatec Spine
Alphatec Spine, Inc. is a wholly owned subsidiary of Alphatec Holdings, Inc. (Nasdaq:ATEC). Alphatec Spine is a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, primarily focused on the aging spine. The Company's mission is to combine world-class customer service with innovative, surgeon-driven design that will help improve the aging patient's quality of life. The Company is poised to achieve its goal through new solutions for patients with osteoporosis, stenosis and other aging spine deformities, improved minimally invasive products and techniques and integrated biologics solutions. In addition to its U.S. operations, the Company also markets its products in over 50 international markets through its subsidiary, Scient'x S.A., via a direct salesforce in France, Italy and the United Kingdom and via independent distributors in the rest of Europe, the Middle East and Africa, South America and Latin America. In Asia and Australia, the Company markets its products through its subsidiary, Alphatec Pacific, Inc, and through Scient'x's distributors in China, Korea and Australia.
The Alphatec Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3520
CONTACT: Alphatec Spine, Inc.
Peter C. Wulff, Chief Financial Officer
(760) 494-6746
investorrelations@alphatecspine.com
Westwicke Partners
Lynn C. Pieper
(415) 202-5678
lynn.pieper@westwicke.com