Alphatec Holdings, Inc. announced the closing of a five-year, $150 million non-dilutive term loan agreement with Braidwell LP. On January 6, 2023, the company entered into a five-year agreement with Braidwell LP, an investment manager that has agreed to make a term loan of up to $150 million. An initial $100 million tranche has been funded and the company has the option to draw an additional $50 million.

Additional features of the debt facility include: Annual interest rate of SOFR plus 5.75%; Interest-only payments throughout the 5-year term; Due in 2028 with no springing maturity ahead of the Company's existing 2026 convertible senior notes.