Alphatec Holdings Inc (ATEC)

Shares of Alphabet Holdings Stock (ATEC) dropped by 21.22% from $12.82 to $10.10 in the trading on Wednesday, October 25, 2023. The reason why ATEC stock down is due to Alphatec's announcement of a public offering of common stock to raise $150 million. This offering involved 14.3 million shares priced at $10.50 per share, which represented an 18% discount compared to the previous day's closing price of $12.82 per share. The underwriters were also granted an option to purchase an additional 2.145 million shares at the offering price. The offering was set to close by October 27, 2023. It's worth noting that such pricing strategies in public offerings are not uncommon, as companies aim to strike a balance between raising capital and maintaining investor interest. This move brought Alphatec's stock price back to a level close to where it traded before the company announced strong preliminary results and raised its full-year guidance the previous week.