Alphatec issues $405M 0.75% convertible notes due 2030; repurchases $253M 2026 notes

Alphatec Holdings, Inc.

Issued $405M principal of 0.75% Convertible Senior Notes due 2030, including $55M from full exercise of initial purchasers' option.
Initial conversion price ~$15.54 per share; interest payable semi-annually, matures March 15, 2030.
Repurchased $253M aggregate principal of outstanding 2026 notes for ~$268.4M cash.
Entered capped call transactions costing ~$42.5M to reduce dilution on conversion; cap price $23.46 per share.
Notes are senior unsecured, redeemable after March 20, 2028 if stock price exceeds 130% of conversion price.

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