Alphatec Holdings, Inc. Announces Completion of Public Offering of Common Stock and Full Exercise of Over Allotment Option
4/22/2010 8:51:47 AM
CARLSBAD, Calif., April 21, 2010 (GLOBE NEWSWIRE) -- 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.