Alphatec Upsizes Convertible Notes Offering to $405 Million

Alphatec Holdings, Inc., a leading medical device company in the spine surgery sector, has successfully closed an upsized offering of convertible senior notes. Initially aimed at $300 million, the offering was increased to $405 million due to high demand, including the full exercise of the initial purchasers' option to acquire additional notes. These notes are due in 2030 and carry a 0.75% interest rate. The conversion price of these notes reflects a 32.5% premium over the reference stock price. As part of the offering, Alphatec engaged in capped call transactions with investment bank dealers to mitigate equity dilution and potentially raise the conversion price significantly. The capital markets team at Goodwin advised the initial purchasers and the investment bank dealers. Alphatec aims to leverage this funding to reinforce its innovative approach within the spine surgery field through its subsidiaries, including its AlphaInformatiX Platform. The initiative reflects Alphatec's vision to set new standards in spine surgery.