Alphatec priced its public offering of 10.9 million shares of common stock at $4.60 per share.
Four details:
1. The company hopes to raise about $50 million during the public offering, which it plans to close on Aug. 2.
2. Alphatec plans to use the net proceeds for general corporate purposes, which could include capital expenditures and continued research and development on products and technology. The company could also use some of the funds for investments or acquisitions, although it is not currently committed to any transactions.
3. Alphatec will allow underwriters the ability to purchase up to 1.6 million additional shares of common stock over an extra 30-day period.
4. The acting book-running managers for the offering are Piper Jaffray and Canaccord Genuity. Lake Street Capital Markets is the acting co-manager in the offering.