secwatch.observer — SEC 8-K summary
======================================

Issuer:     Alphatec Holdings, Inc. (ATEC)
CIK:        0001350653
Form:       8-K
Filed at:   2022-10-03T23:59:59+00:00
Accession:  0000950170-22-019239
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1350653/000095017022019239/0000950170-22-019239-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1350653/000095017022019239/atec-20220929.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-019239

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer