Alphatec enters $50M ABL credit facility; accordion up to $75M, matures 2027

Alphatec Holdings, Inc.

Facility secured by accounts receivable (85% advance rate) and inventory (40%, capped at $15M or 50% of borrowing base).
Interest at Term SOFR + 3.50% per annum; maturity September 29, 2027 or 90 days before 2026 convertible notes maturity.
Proceeds used for fees, working capital, and general corporate purposes; $10M minimum liquidity covenant required.
Collateral includes substantially all assets except intellectual property; first-priority lien on subsidiary equity.
Lenders may increase commitments by up to $25M via additional tranches of at least $5M each, subject to conditions.

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