Shares of Alphatec Holdings Inc. ATEC gained 0.2% in morning trading Monday, after the California-based spinal fusion technology company disclosed that it had $14 million deposited with SVB Financial Group’s SIVBSilicon Valley Bank for use for its day-to-day operations. That represented about 16.5% of the $84.7 million Alphatec had in cash and cash equivalents as of Dec. 31. “The Company affirms its expectation that its cash and cash equivalents held outside of SVB will be sufficient to operate the Company’s business and meet its cash requirements for the foreseeable future,” the company said in an 8-K filing with the Securities and Exchange Commission. The stock, which tumbled 10.1% over the past two sessions as SVB’s troubles became public, has run up 37.3% over the past three months while the S&P 500 SPX has lost 5.1%.
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