Business Context and Reporting Period
This Form 8-K filing by Alphatec Holdings, Inc. (ATEC) was submitted on September 17, 2015. The report addresses a regulatory notice received from The NASDAQ Stock Market LLC regarding the Company's compliance with listing standards.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The only financial metric disclosed is the stock price performance, noting that the common stock failed to maintain a minimum closing bid price of $1.00 per share for 30 consecutive business days.
Material Changes
The material change reported is the receipt of a delisting notice from NASDAQ due to the failure to satisfy the Minimum Bid Price Requirement under Listing Rule 5450(a)(1). This notice has no immediate effect on the trading of the Company's stock, which continues on The NASDAQ Global Select Market.
Outlook, Risks, and Contingencies
- Cure Period: The Company has 180 calendar days (until March 15, 2016) to regain compliance.
- Compliance Path: Compliance is achieved if the closing bid price remains at or above $1.00 for 10 consecutive business days within the cure period.
- Contingency Plan: If compliance is not met by March 15, 2016, the Company may transfer to The NASDAQ Capital Market to receive an additional 180-day period, provided it meets other listing requirements.
- Risk: Management states there can be no assurance that the Company will be able to regain compliance with The NASDAQ Global Select Market listing requirements.
Investor Verification Checklist
- Verify the current closing bid price of ATEC stock to assess progress toward the $1.00 threshold.
- Monitor the Company's stock price for 10 consecutive business days to determine if automatic compliance is achieved.
- Review future filings for announcements regarding a potential transfer to The NASDAQ Capital Market if the initial cure period expires without compliance.
- Check for any corporate actions (e.g., reverse stock splits) the Company might undertake to address the low stock price.