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Actionable news in ATEC: Alphatec Holdings, Inc.,

Entry into a Material Definitive

On November 2, 2015, each of Alphatec Spine, Inc. (Alphatec Spine), a wholly owned subsidiary of Alphatec Holdings, Inc. (the Company) entered a first amendment (the First Amendment) to that certain Collaboration Agreement by and among Alphatec Spine, the Company, Elite Medical Holdings, LLC and Pac 3 Surgical Products, LLC (the Collaborators) (the Collaboration Agreement). Under the Collaboration Agreement, the Collaborators agreed to provide services related to the development and commercialization of the Companys current products and products in the Companys product pipeline. As consideration for the services, the Collaboration Agreement provides that the Company will issue an aggregate $8.0 million of the Companys common stock, based on a per share price of $1.95 per share, which was the average of the closing price of the Companys common stock on The NASDAQ Global Select Market on each of the four days prior to the effective date and the effective of the Collaboration Agreement. Pursuant to the First Amendment, in exchange for a "lock up" restriction on selling or transferring each tranche of shares issued to the Collaborators and a maximum value cap (as discussed below), the Company has agreed to make a cash payment to the Collaborators in the event that the shares in such tranche do not have a minimum amount of value based on the market value of the Companys common stock at the end of the lock up period applicable to such tranche of shares. In addition, in the event that at the end of a lock up period the value of a tranche of shares issued to the Collaborators exceeds a certain amount, the Collaborators have agreed to forfeit shares back to the Company, so as to limit the maximum amount of value derived from such shares at the end of a lock up period. Pursuant to the First Amendment, the shares issued to the Collaborators in each of 2014...