Loan & DebtMay 5, 2026, 04:33 PM
Alphatec Secures $300M Credit Facility, Refinances Debt, Cuts Interest
AI Summary
Alphatec Holdings, Inc. secured a new senior secured credit agreement totaling $300 million, comprising a $175 million Term Loan A and a $125 million Revolving Credit Facility. This inaugural syndicated bank facility refinances existing debt, simplifies the capital structure, and is expected to reduce annual interest expense by over $6 million, extending maturities to 2031. Concurrently, the company reported Q1 2026 financial results, with total revenue growing 14% to $192 million and surgical revenue increasing 17% to $178 million. Adjusted EBITDA expanded 460 basis points year-over-year to $21 million, while GAAP net loss was $34 million.
Key Highlights
- Secured new $300 million senior secured credit facility ($175M Term Loan A, $125M Revolving Credit Facility).
- Refinances existing debt, extends maturities to 2031, and includes a $150 million accordion feature.
- Expected to reduce annual interest expense by over $6 million, saving over $35 million lifetime.
- Q1 2026 total revenue grew 14% to $192 million.
- Q1 2026 surgical revenue grew 17% to $178 million, driven by 21% case volume growth.
- Q1 2026 Adjusted EBITDA was $21 million (11% margin), expanding 460 bps YoY.
- Full-year 2026 total revenue guidance ~$882 million (+15% growth); Adjusted EBITDA ~$134 million.
- Q1 2026 GAAP net loss was ($34) million.