L-5 Healthcare Partners, LLC - Jun 16, 2021 Form 4 Insider Report for Alphatec Holdings, Inc. (ATEC)

Role: Director by deputization, 10%+ Owner
Signature: L-5 Healthcare Partners, LLC; by /s/ Paul Segal, Manager
Stock symbol: ATEC
Transactions as of: Jun 16, 2021
Transactions value $: $357
Form type: 4
Date filed: 6/16/2021, 05:39 PM
Next filing: Nov 10, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ATEC	Common Stock	Options Exercise	$1.4M	+400K	+5.04%	$3.50	8.34M	Jun 16, 2021	Direct	F1, F2
transaction	ATEC	Common Stock	Tax liability	-$1.4M	-93.7K	-1.12%	$14.93	8.24M	Jun 16, 2021	Direct	F1, F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ATEC	Warrants to Purchase Common Stock	Options Exercise	$0	+400K	+6.73%	$0.00	6.35M	Jun 16, 2021	Common Stock	400K	$3.50	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each of Jason Hochberg and Evan Bakst serve on the board of directors of the issuer as a representative of the reporting persons. As a result, each reporting person herein may be deemed a director by deputization for the purposes of Section 16 of the Exchange Act.
F2	Paul Segal directly (through his position as manager of L-5 Healthcare Partners, LLC ("L-5")) may be deemed to control L-5 and to have shared voting and investment power with respect to the shares beneficially owned by L-5. As such, Mr. Segal may be deemed to have shared beneficial ownership of the shares beneficially owned by L-5. Mr. Segal, however, disclaims beneficial ownership of such shares, except to the extent of his indirect pecuniary interest therein.
F3	Represents a "cashless exercise" of outstanding warrants. The reporting person received 306,253 shares of Common Stock on cashless exercise of warrants to purchase 400,000 shares of Common Stock. The Company withheld 93,747 shares of Common Stock underlying the warrants for payment of the exercise price, using the VWAP on June 15, 2021 of $14.93, pursuant to the terms of the warrant.