FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

TULLIS JAMES L L
2. Issuer Name and Ticker or Trading Symbol

Alphatec Holdings, Inc. [ ATEC ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle)

C/O ALPHATEC SPINE, INC., 1950 CAMINO VIDA ROBLE
3. Date of Earliest Transaction (MM/DD/YYYY)

5/17/2023
(Street)

CARLSBAD, CA 92008
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)        (State)        (Zip)
Rule 10b5-1(c) Transaction Indication
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 5/17/2023  M(1)  6143 A$3.5 198452 D 
 
Common Stock 5/17/2023  M(2)  147726 A$3.5 659570 I By Tullis Dickerson Capital Focus III, LP 
Common Stock 5/17/2023  M(3)  107309 A$3.5 658267 I By Tullis Growth Fund, L.P. 
Common Stock 5/17/2023  F(1)  1398 D$15.37 197054 D 
 
Common Stock 5/17/2023  F(2)  33639 D$15.37 625931 I By Tullis Dickerson Capital Focus III, LP 
Common Stock 5/17/2023  F(3)  24436 D$15.37 633831 I By Tullis Growth Fund, L.P. 
Common Stock         380097 I By Tullis-Dickerson Partners III, LLC 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Warrants (right to buy) $3.5 5/17/2023  M (1)    6143  5/17/2018 5/17/2023 Common Stock 6143 $0 0 D 
 
Warrants (right to buy) $3.5 5/17/2023  M (2)    147726  5/17/2018 5/17/2023 Common Stock 147726 $0 0 I By Tullis Dickerson Capital Focus III, LP 
Warrants (right to buy) $3.5 5/17/2023  M (3)    107309  5/17/2018 5/17/2023 Common Stock 107309 $0 0 I By Tullis Growth Fund, L.P. 

Explanation of Responses:
(1) On May 17, 2023, the reporting person exercised warrants to purchase 6,143 shares of the issuer's common stock for $3.50 per share. The reporting person paid the exercise price on a cashless basis, resulting in the issuer withholding 1,398 of the warrant shares to pay the exercise price and issuing to the reporting person 4,745 shares.
(2) On May 17, 2023, the reporting person exercised warrants to purchase 147,726 shares of the issuer's common stock for $3.50 per share. The reporting person paid the exercise price on a cashless basis, resulting in the issuer withholding 33,639 of the warrant shares to pay the exercise price and issuing to the reporting person 114,087 shares.
(3) On May 17, 2023, the reporting person exercised warrants to purchase 107,309 shares of the issuer's common stock for $3.50 per share. The reporting person paid the exercise price on a cashless basis, resulting in the issuer withholding 24,436 of the warrant shares to pay the exercise price and issuing to the reporting person 82,873 shares.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
TULLIS JAMES L L
C/O ALPHATEC SPINE, INC.
1950 CAMINO VIDA ROBLE
CARLSBAD, CA 92008
X



Signatures
/s/ Tyson E. Marshall, Attorney-in-Fact5/18/2023
**Signature of Reporting PersonDate


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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