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Alphatec Holdings raising $50.1M from common stock offering

Alphatec Holdings Inc. is planning to raise about $50.1 million from an underwritten public offering of 10.9 million common shares priced at $4.60 apiece.

Carlsbad, Calif.-based Alphatec develops and sells equipment for the surgical treatment of spine disorders.

The company also granted the underwriters a 30-day option to purchase up to an additional 1,635,000 shares at the public offering price.

Piper Jaffray and Canaccord Genuity are acting as joint book-running managers, while Lake Street Capital Markets is acting as co-manager for the offering.

The company plans to use the net proceeds for general corporate purposes, including working capital, capital expenditures, and continued research and development activities. Alphatec may use a portion of the proceeds to fund possible investments or acquisitions of complementary businesses, products, or technologies.

The offering is expected to close by Aug. 2, subject to customary closing conditions.