Alphatec Holdings Announces Completion of Public Offering of Common Stock and Full Exercise of Over Allotment Option
21 April 2010 - 9:30PM
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
![Alphatec Spine](http://media.primezone.com/cache/8408/small/5932.jpg)
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