The new notice offering of equity, which made its first sale on Dec. 18, 2020, has received investments from six participants so far. The company does not intend for the offering of about $168 million, which has approximately $138 million remaining to be sold, to last for more than one year.
Carlsbad, Calif.-based Alphatec is not requiring a minimum investment in the offering. The company additionally disclosed in the SEC filing that it owes an estimated $3.24 million in sales commissions to Cowen & Company.
Alphatec did not disclose an intended use of proceeds from the offering. The company develops the SafeOp neural informatix system for safely and reproducibly treating the spine’s various pathologies.
Original Article: (https://www.massdevice.com/alphatec-raises-30m/)