Press Release August 10, 2021

Capital Markets Team Represents Initial Purchasers and Dealers on Alphatec Holdings, Inc.’s $316.25 Million 0.75% Convertible Senior Notes and Capped Call

The Capital Markets team advised the initial purchasers on Alphatec Holdings, Inc.’s (Nasdaq: ATEC) Rule 144A offering of 0.75% Convertible Senior Notes due 2026. The $316.25 million offering includes the full exercise of the initial purchasers’ option to purchase $41.25 million in additional notes. The initial conversion price of the notes feature a premium of approximately 32.5% up from the reference price of $13.84 per share. In connection with the offering, Alphatec and certain investment bank dealers entered into capped call transactions, which mitigate equity dilution and/or offset payments due upon conversion of the notes and effectively raise the conversion price of the notes to $27.68 per share, a 100% premium over the reference price. Additionally, Alphatec used approximately $25.0 million of the net proceeds from the offering to repurchase approximately 1.806 million shares of its common stock from certain purchasers of the notes to mitigate dilution.

Alphatec Holdings Inc., through its wholly owned subsidiaries, Alphatec Spine, Inc., SafeOp Surgical, Inc., and EOS imaging S.A., is a medical technology company that designs, develops, and markets technology for the treatment of spinal disorders associated with disease and degeneration, congenital deformities, and trauma.

Goodwin’s product team consisted of Jim Barri, John Servidio, Tiffany Williamson, and Benjamin Drai. Goodwin’s Life Sciences team consisted of Edwin O’Connor, Marishka DeToy, Kristen McCarthy, Della Fok, and Zachary Davidson. Daniel Karelitz and Garrett Gaughan provided tax advice.

For more information, read Alphatec Holdings Inc.’s pricing press release for the offering.