The funds allow Alphatec Spine to satisfy obligations arising from the OrthoTec litigation. In February 2014, a jury reached a verdict in a lawsuit involving OrthoTec and Surgiview, which was purchased by Alphatec Holdings in 2010. The jury awarded OrthoTec $47.9 million in monetary damages against Surgiview. Alphatec agreed to settle the legal matter with OrthoTec.
Alphatec Spine has the option to draw the money in one or more increments prior to January 30th, 2015.
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