L-5 Healthcare Partners Adjusts Stake in Alphatec Holdings
Ticker: ATEC · Form: SC 13D/A · Filed: Mar 22, 2024 · CIK: 1350653
| Field | Detail |
|---|---|
| Company | Alphatec Holdings, Inc. (ATEC) |
| Form Type | SC 13D/A |
| Filed Date | Mar 22, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.0001, $12.7875, $15.0972, $17,725,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: schedule-13d, beneficial-ownership, amendment
Related Tickers: ATEC
TL;DR
L-5 Healthcare Partners now owns 10.5% of Alphatec Holdings after filing Amendment 6 to their 13D.
AI Summary
On March 20, 2024, L-5 Healthcare Partners, LLC, through its representative Jeffrey Wade, filed an amendment (Amendment No. 6) to its Schedule 13D concerning Alphatec Holdings, Inc. The filing indicates a change in beneficial ownership, with L-5 Healthcare Partners, LLC now holding 10.5% of Alphatec's common stock. This filing follows previous amendments and suggests ongoing strategic interest in the company.
Why It Matters
This filing signals a potential shift in control or influence over Alphatec Holdings, Inc., which could impact its strategic direction and stock performance.
Risk Assessment
Risk Level: medium — Changes in significant beneficial ownership can lead to increased volatility and potential strategic shifts for the company.
Key Numbers
- 10.5% — Beneficial Ownership (Percentage of Alphatec Holdings, Inc. common stock held by L-5 Healthcare Partners, LLC as of the filing date.)
Key Players & Entities
- L-5 Healthcare Partners, LLC (company) — Filing entity
- Alphatec Holdings, Inc. (company) — Subject company
- Jeffrey Wade (person) — Representative for L-5 Healthcare Partners, LLC
- Adam M. Turteltaub (person) — Legal counsel
- Willkie Farr & Gallagher LLP (company) — Legal firm
FAQ
What specific changes in beneficial ownership are detailed in Amendment No. 6?
Amendment No. 6 to the Schedule 13D filed by L-5 Healthcare Partners, LLC indicates a change in beneficial ownership, with the entity now holding 10.5% of Alphatec Holdings, Inc. common stock.
Who is the authorized person to receive notices for this filing?
Jeffrey Wade, c/o LS Power Development, LLC, 1700 Broadway, 35th Floor, New York, New York 10019, is the person authorized to receive notices and communications.
When was this amendment filed with the SEC?
This amendment (Amendment No. 6) to the Schedule 13D was filed on March 22, 2024, with the date as of change being March 20, 2024.
What is the CUSIP number for Alphatec Holdings, Inc. common stock?
The CUSIP number for Alphatec Holdings, Inc. common stock is 02081G102.
What is the business address of Alphatec Holdings, Inc.?
The business address of Alphatec Holdings, Inc. is 5818 El Camino Real, Carlsbad, CA 92008.
Filing Stats: 1,200 words · 5 min read · ~4 pages · Grade level 12.4 · Accepted 2024-03-22 19:57:56
Key Financial Figures
- $0.0001 — me of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securiti
- $12.7875 — Transactions have a put strike price of $12.7875 and a call strike price of $15.0972. Th
- $15.0972 — of $12.7875 and a call strike price of $15.0972. The Collar Transactions will be settle
- $17,725,000 — ransactions, L-5 received an advance of $17,725,000 and pledged, in aggregate, 1,500,000 sh
Filing Documents
- d772408dsc13da.htm (SC 13D/A) — 45KB
- d772408dex997q.htm (EX-99.7(Q)) — 343KB
- 0001193125-24-075553.txt ( ) — 389KB
of the Schedule 13D is hereby amended and restated as follows
Item 5 of the Schedule 13D is hereby amended and restated as follows: (a) and (b) The information contained on the cover pages to this Schedule 13D and Item 3 is incorporated herein by reference The aggregate percentage of Common Stock reported owned by each person named herein is based upon 137,979,126 shares of Common Stock outstanding as of February 19, 2024, which is the total number of shares of Common Stock outstanding as reported in the Issuers Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 27, 2024. L-5 directly holds 11,081,538 shares of Common Stock reported in this Schedule 13D. As a result of his relationship with L-5, Paul Segal may be deemed the beneficial owner of all such shares of Common Stock. Mr. Segal, however, disclaims beneficial ownership of such shares, except to the extent of his indirect pecuniary interest therein. (c) The equity collar transactions consist of a purchased put option and a sold call option (each, a Collar Transaction ), pursuant to Share Collar Transactions Confirmations (each, a Collar Confirmations ) substantially in the form of Exhibit 7(q) with JPMorgan Chase Bank, National Association and JPMorgan Chase Bank, National Association, as collateral agent (together, JPM ). The Collar Transactions cover an aggregate of 1,500,000 shares of Class A Common Stock and expire May 20, 2025. The Collar Transactions have a put strike price of $12.7875 and a call strike price of $15.0972. The Collar Transactions will be settled in cash unless L-5 elects physical settlement, in which case it expects to exchange Pledged Units to JPM (as defined below) sufficient to satisfy its obligations under the Collar Transactions. In connection with the Collar Transactions, L-5 received an advance of $17,725,000 and pledged, in aggregate, 1,500,000 shares of Common Stock (the Pledged Units ). The foregoing description of the Collar Transactions does not purport to be complete and is qualified in
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this Schedule 13D is true, complete and correct. Dated: March 22, 2024 L-5 HEALTHCARE PARTNERS, LLC By: /s/ Paul Segal Name: Paul Segal Title: President /s/ Paul Segal Paul Segal