# EDGAR Filing Document

**Accession Number:** 0001719228
**File Stem:** 0001193125-25-323158
**Filing Date:** 2025-12
**Character Count:** 15935
**Document Hash:** 7bc42adb5311bba1c08fc68f330d20c0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-323158.hdr.sgml**: 20251217

**ACCESSION NUMBER**: 0001193125-25-323158

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251217

**DATE AS OF CHANGE**: 20251217

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Alphatec Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001350653
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 202463898
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-82584
- **FILM NUMBER:** 251580650

**BUSINESS ADDRESS:**
- **STREET 1:** 1950 CAMINO VIA ROBLE
- **CITY:** CARLSBAD
- **STATE:** CA
- **BUSINESS PHONE:** 760-431-9286

**MAIL ADDRESS:**
- **STREET 1:** 1950 CAMINO VIA ROBLE
- **CITY:** CARLSBAD
- **STATE:** CA
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Squadron Capital LLC
- **CENTRAL INDEX KEY:** 0001719228

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 2850 FRONTIER DR.
- **CITY:** WARSAW
- **STATE:** IN
- **ZIP:** 46582
- **BUSINESS PHONE:** 5742686379

**MAIL ADDRESS:**
- **STREET 1:** 2850 FRONTIER DR.
- **CITY:** WARSAW
- **STATE:** IN
- **ZIP:** 46582

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 1)**

**Alphatec Holdings, Inc.**

*(Name of Issuer)*

**Common Stock, par value $0.0001 per share**

*(Title of Class of Securities)*

**02081G201**

*(CUSIP Number)*

**C. Birkeland & A. Berlin**<br>Latham & Watkins LLP<br>330 N. Wabash Ave, Suite 2800<br>Chicago IL 60611<br>312-876-7700

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**12/15/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **02081G201** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Squadron Capital LLC** | Name of reporting person<br>**Squadron Capital LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**10395045.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**10395045.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**10395045.00** | Aggregate amount beneficially owned by each reporting person<br>**10395045.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.0%** | Percent of class represented by amount in Row (11)<br>**7.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Based on 148,550,185 shares of common stock, par value $0.0001 per share, of the Issuer ("Common Stock") outstanding as of October 23, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025.

| **CUSIP No.** | **02081G201** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Squadron Capital Holdings LLC** | Name of reporting person<br>**Squadron Capital Holdings LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**10395045.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**10395045.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**10395045.00** | Aggregate amount beneficially owned by each reporting person<br>**10395045.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.0%** | Percent of class represented by amount in Row (11)<br>**7.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Based on 148,550,185 shares of Common Stock outstanding as of October 23, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025.

| **CUSIP No.** | **02081G201** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Jennifer N. Pritzker** | Name of reporting person<br>**Jennifer N. Pritzker** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**58000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**13157781.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**58000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**13157781.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**13215781.00** | Aggregate amount beneficially owned by each reporting person<br>**13215781.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**8.9%** | Percent of class represented by amount in Row (11)<br>**8.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Based on 148,550,185 shares of Common Stock outstanding as of October 23, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025.

| **CUSIP No.** | **02081G201** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**David R. Pelizzon** | Name of reporting person<br>**David R. Pelizzon** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**—** | Source of funds (See Instructions)<br>**—** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**346827.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**10395045.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**331696.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**10395045.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**10741872.00** | Aggregate amount beneficially owned by each reporting person<br>**10741872.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.2%** | Percent of class represented by amount in Row (11)<br>**7.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**—** | Type of Reporting Person (See Instructions)<br>**—** | |

---

**Comment for Reporting Person:** Based on 148,550,185 shares of Common Stock outstanding as of October 23, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.0001 per share

**(b) Name of Issuer:**
Alphatec Holdings, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
1950 Camino Vida Roble, Carlsbad, CA, 92008

This Amendment No. 1 to Schedule 13D ("Amendment No. 1") amends and supplements the Schedule 13D originally filed by the Reporting Persons on March 11, 2021 (as amended to date, the "Schedule 13D"). Capitalized terms used herein without definition shall have the meeting set forth in the Schedule 13D.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5(a) of the Schedule 13D is amended and restated in its entirety as follows:

The information contained on the cover pages to this Schedule 13D is incorporated herein by reference.

Squadron Capital LLC ("SC LLC") is a manager-managed limited liability company and, as of the date hereof, directly holds 10,395,045 shares of Common Stock. The voting and investment decisions of SC LLC are made by its managing committee, consisting of Jennifer N. Pritzker and David R. Pelizzon. In such capacity, each of Ms. Pritzker and Mr. Pelizzon may, for the purposes hereof, be deemed to beneficially own the shares of Common Stock held directly by SC LLC.

Mr. Pelizzon also directly holds 346,827 shares of Common Stock.

Ms. Pritzker directly and/or jointly holds 20,900 shares of Common Stock and may be deemed to have beneficial ownership over 37,100 shares of Common Stock held by Jennifer N. Pritzker Revocable Trust ("JNP Trust") for which she serves as trustee. Ms. Pritzker may also, for the purposes hereof, be deemed to beneficially own (i) 2,725,805 shares of Common Stock held directly by Tawani, a manager-managed limited liability company whose controlling member is JNP Trust and where Ms. Pritzker is one of two managers, (ii) 10,000 shares of Common Stock held directly by Mary's Go Round LLC, a manager-managed limited liability company whose manager and sole member is Tawani Enterprises, Inc., a corporation solely owned by JNP Trust and where Ms. Pritzker is the sole director, (iii) 1,000 shares of Common Stock held directly by the Pritzker Military Museum and Library, for which she is the sole member, (iv) 6,000 shares of Common Stock held directly by Tawani Foundation, for which she is the sole member, (v) 8,000 shares of Common Stock held by the Pritzker Military Foundation, for which she is the sole member, and (vi) 11,931 shares of Common Stock held directly by her spouse.

Squadron Capital Holdings LLC ("SCH LLC") is a manager-managed limited liability company and the controlling member of SC LLC, and in such capacity may be deemed to beneficially own the shares of Common Stock held directly by SC LLC. The voting and investment decisions of SCH LLC are made by its managing committee, consisting of Mary Falcon, David Pelizzon and Michelle Nakfoor. The members of the managing committee of SCH LLC disclaim beneficial ownership as a result of serving as members of the managing committee.

**(b)**
See Item 5(a)

**(c)**
On November 12, 2025, SC LLC sold an aggregate 250,000 shares of Common Stock in the open market for a weighted average price of $20.80. On November 24, 2025, SC LLC sold an aggregate 250,000 shares of Common Stock in the open market for a weighted average price of $20.62. On December 8, 2025, SC LLC sold an aggregate 221,166 shares of Common Stock in the open market for a weighted average price of $21.20. On December 9, 2025, SC LLC sold an aggregate 28,834 shares of Common Stock in the open market for a weighted average price of $21.03. On December 16, 2025, SC LLC sold an aggregate 250,000 shares of Common Stock in the open market for a weighted average price of $19.66.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Squadron Capital LLC

**Signature:** /s/ David R. Pelizzon

**Name/Title:** David R. Pelizzon, President

**Date:** 12/17/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Squadron Capital Holdings LLC

**Signature:** /s/ Mary Falcon

**Name/Title:** Mary Falcon, Manager

**Date:** 12/17/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Jennifer N. Pritzker

**Signature:** /s/ Jennifer N. Pritzker

**Name/Title:** Jennifer N. Pritzker

**Date:** 12/17/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** David R. Pelizzon

**Signature:** /s/ David R. Pelizzon

**Name/Title:** David R. Pelizzon

**Date:** 12/17/2025