Alphatec Hldgs Inc Stock Price, News & Analysis

Alphatec Holdings (ATEC) has priced an upsized offering of $350 million convertible senior notes due 2030, increased from the previously announced $300 million. The notes will carry a 0.75% annual interest rate, payable semi-annually, and mature on March 15, 2030.

The initial conversion rate is 64.3407 shares per $1,000 principal amount, representing a conversion price of $15.54 per share - a 32.5% premium over ATEC's closing price of $11.73. The company expects net proceeds of approximately $339 million, which will be used to fund capped call transactions ($36.7 million), repurchase existing 2026 notes ($268.4 million), and general corporate purposes.

ATEC has entered into capped call transactions to reduce potential dilution and offset cash payments upon conversion. The cap price is set at $23.46 per share, representing a 100% premium over the current stock price.

Alphatec Holdings (ATEC) has announced plans to offer $300 million in convertible senior notes due 2030 to qualified institutional buyers, with an option for purchasers to buy an additional $50 million. The notes will be senior, unsecured obligations with semi-annual interest payments.

The notes will be convertible into cash, ATEC common stock, or a combination thereof. Conversion rights activate upon certain events before September 17, 2029, and at any time thereafter until maturity. ATEC can redeem the notes after March 20, 2028, if stock price conditions are met.

The company plans to enter into capped call transactions to reduce potential dilution. Proceeds will be used to: (1) fund capped call transactions, (2) repurchase a portion of existing 0.75% convertible notes due 2026, and (3) general corporate purposes.

Alphatec Holdings (ATEC) reported strong financial results for Q4 and full year 2024, with total revenue growing 27% to $612 million. The company demonstrated robust Q4 performance with 28% surgical revenue growth, driven by 19% surgical volume growth and a 7% increase in average revenue per surgery. New surgeon users increased by 20%.

ATEC expanded internationally by entering the Japanese market, marking its presence in the world's second-largest spine market. Looking ahead to 2025, the company projects total revenue of approximately $732 million, representing 20% growth, with $657 million from surgical revenue and $75 million from EOS revenue. The company expects adjusted EBITDA of about $75 million and anticipates positive free cash flow for 2025.

Alphatec Holdings (ATEC) has announced its participation in two upcoming investor conferences in March 2025. The company will attend the Canaccord Genuity Musculoskeletal Conference in San Diego on March 10, featuring a fireside chat at 10:30am PT, and the Barclays Global Healthcare Conference in Miami on March 11, with a fireside chat scheduled for 3:00pm ET. Live webcasts may be available on ATEC's Investor Relations website.

Additionally, ATEC has granted inducement awards to 6 new non-executive employees, consisting of 7,306 restricted stock units (RSUs) under the company's 2016 Employment Inducement Award Plan. These RSUs will vest in equal annual installments over four years, contingent on continued employment, with full vesting occurring upon any change of control of ATEC.

Alphatec Holdings (ATEC) reported preliminary financial results for 2024 and provided outlook for 2025. The company achieved 27% growth in total revenue to approximately $611 million for full-year 2024. Surgical revenue showed strong performance with 29% growth, driven by 19% surgical volume growth and 8% increase in average revenue per procedure.

The company's cash balance reached $139 million as of December 31, 2024, representing a $58 million increase from Q3 2024, including $50 million from a term loan expansion. For 2025, ATEC projects total revenue of $732 million, indicating approximately 20% growth, with surgical revenue expected at $657 million and EOS revenue at $75 million. The company also anticipates adjusted EBITDA of about $75 million and expects to achieve positive free cash flow in 2025.

Paragon 28 (NYSE: FNA), a foot and ankle surgical solutions provider, has appointed Dave Demski as an independent director, expanding its board from eight to nine members. Demski brings over two decades of orthopedic executive leadership experience, having most recently served as President and CEO of Globus Medical from 2017 to 2022. His background includes roles as CFO, COO, and President of Emerging Technologies at Globus Medical. Currently, he serves on the board of Alphatec Spine and previously served on Axonics' board until its acquisition by Boston Scientific in 2024. Demski holds a B.S. in Business Administration from the University of Michigan and an MBA from Stanford.

Alphatec Holdings (Nasdaq: ATEC) has announced its upcoming participation in the J.P. Morgan Healthcare Conference. The spine surgery solutions provider will deliver a presentation at the Westin St. Francis Hotel in San Francisco on January 15, 2025, at 5:15 PM Pacific Time.

The company will make both the webcast and presentation materials accessible through the Investor Relations section of their website, allowing interested parties to follow the presentation remotely.

Alphatec Holdings (ATEC) reported strong Q3 2024 results with total revenue reaching $151 million, driven by 30% surgical revenue growth and 27% total revenue growth. The company achieved a GAAP gross margin of 68% and recorded a GAAP net loss of $40 million. Key operational highlights include 20% procedural volume growth, 19% growth in new surgeon adoption, and over 200 surgeon training engagements. ATEC secured a $50 million expansion of its existing term loan facility, bringing total capacity to $200 million. The company raised its full-year 2024 guidance, now expecting total revenue of $605 million and adjusted EBITDA of $27 million.

Alphatec Holdings, Inc. (Nasdaq: ATEC), a provider of innovative spine surgery solutions, has announced it will report its third quarter 2024 financial results on October 30, 2024, after market close. The company will host a live webcast at 1:30 p.m. PT / 4:30 p.m. ET on the same day.

To access the webcast, investors can visit the Investor Relations Section of ATEC's Corporate Website. For those wishing to dial in, registration is required via a provided link. A replay of the webcast will be available for twelve months.

Additionally, ATEC has granted 49,969 restricted stock units (RSUs) to 12 new non-executive employees as an employment inducement. These RSUs will vest in equal annual installments over four years, subject to continued employment, and will fully vest upon a change of control of ATEC.