Pursuant to the purchase agreement governing the offering, the price per share for the common stock was $2.54, which is the higher of the average closing share price for the company's common stock on the Nasdaq national market for prior four most recently completed trading days prior to the date the agreement was executed, and the closing share bid price for the company's common stock on the Nasdaq national market on the date that the agreement was executed.

Alphatec plans to use the net proceeds of the private placement for general working capital purposes. The net proceeds to the company pursuant to the offering are expected to be approximately $9.9 million. Thomas Weisel Partners acted as sole placement agent in connection with this transaction.

The shares of common stock sold in the offering have not yet been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the US absent a registration statement or exemption from registration. The closing of this private placement is expected to occur on or about June 22, 2009, subject to customary closing conditions.

Dirk Kuyper, president and CEO of Alphatec Spine, said: "The proceeds from this private placement strengthen our overall financial position and enables us to focus on execution. We evaluated a number of alternatives and are pleased that HealthpointCapital's ongoing support and confidence in the business has enabled up to complete this financing, providing Alphatec Spine with the highest amount of net cash proceeds with the least dilution to our shareholders as compared to other financing alternatives available in the current capital market environment."

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