By Devika Patel
Knoxville, Tenn., April 15 – Alphatec Holdings, Inc. settled a $30 million financing facility with Squadron Medical Finance Solutions, LLC on March 27, according to a press release.
The loan is due in November 2023 and bears interest at Libor plus 800 basis points, with a 10% floor and a 13% ceiling.
Squadron also received warrants for 4.8 million common shares, each exercisable at $2.17.
Proceeds will be used for general corporate purposes.
Alphatec is a Carlsbad, Calif.-based medical device company.
| Issuer: | Alphatec Holdings, Inc.
|
| Issue: | Financing facility
|
| Amount: | $30 million
|
| Maturity: | November 2023
|
| Coupon: | Libor plus 800 bps, 10% floor and 13% ceiling
|
| Warrants: | For 4.8 million shares
|
| Warrant strike price: | $2.17
|
| Investor: | Squadron Medical Finance Solutions, LLC
|
| Announcement date: | April 15
|
| Settlement date: | March 27
|
| Distribution: | Private placement
|
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