ATEC Announces Successful Closing of Public Stock Offering, Garnering $150 Million in Gross Proceeds
CARLSBAD, Calif.- Alphatec Holdings, Inc.(ATEC) (NASDAQ: ATEC), a leading provider of innovative solutions in spine surgery, proudly revealed today the completion of its highly anticipated underwritten public offering.A total of 14,300,000 shares of ATEC’s common stock were successfully sold at a public offering price of $10.50 per share.The joint book-running managers for this offering were Morgan Stanley, TD Cowen, Barclays, and Stifel.
ATEC’s recent stock offering has proved to be a resounding success, generating a remarkable $150 million in gross proceeds for the company.These funds will undoubtedly play a crucial role in accelerating the development and commercialization of the company’s groundbreaking spine surgery solutions.
As mentioned in the press release, Alphatec Holdings Inc.’s current share price stands at $9.55, demonstrating stability amidst the turbulent market conditions caused by the ongoing COVID-19 pandemic.Notably, over the past 30 days, ATEC shares have improved by an impressive 3.39%, further solidifying the company’s position as a worthy investment option.
This milestone offering marks a significant moment for ATEC and its commitment to revolutionizing the approach to spine surgery.By securing ample financial resources, the company is uniquely positioned to drive innovative research and development efforts, enhance commercial and marketing initiatives, and expand its presence in domestic and international markets.
As an industry leader in spine surgery solutions, ATEC continues to push the boundaries of innovation, said the CEO of Alphatec Holdings, Inc.The overwhelming demand and success of our recent public offering reaffirms the market’s confidence in our ability to transform the way spine surgeries are performed.We are incredibly grateful for the continued support from our esteemed investors and look forward to the possibilities that lie ahead.
The successful completion of the public offering aligns with ATEC’s vision to improve patient outcomes and healthcare professional workflows by delivering novel spinal solutions.By investing in cutting-edge technologies and strategic partnerships, ATEC aims to enable surgeons to provide superior patient care through minimally invasive procedures, reduced hospital stays, and enhanced post-operative recovery.
Moving forward, Alphatec Holdings, Inc.remains steadfast in its mission to be at the forefront of spine surgery innovation.With the substantial financial backing and the immense confidence of investors, the company is poised to make significant strides in the field by introducing groundbreaking advancements that will transform the lives of patients worldwide.
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