Please wait

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Name of Issuer)

(Title of Class of Securities)

(CUSIP Number)

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13D/A 0001719228 XXXXXXXX LIVE 1 Common Stock, par value $0.0001 per share 12/15/2025 false 0001350653 02081G201 Alphatec Holdings, Inc. 1950 Camino Vida Roble Carlsbad CA 92008 C. Birkeland & A. Berlin 312-876-7700 Latham & Watkins LLP 330 N. Wabash Ave, Suite 2800 Chicago IL 60611 0001719228 N Squadron Capital LLC b OO N DE 0 10395045 0 10395045 10395045 N 7.0 OO 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. 0001731171 N Squadron Capital Holdings LLC b OO N DE 0 10395045 0 10395045 10395045 N 7.0 OO 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. 0001850165 N Jennifer N. Pritzker b OO N X1 58000 13157781 58000 13157781 13215781 N 8.9 IN 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. 0001719217 N David R. Pelizzon b N X1 346827 10395045 331696 10395045 10741872 N 7.2 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. Common Stock, par value $0.0001 per share Alphatec Holdings, Inc. 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(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. See Item 5(a) 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. Squadron Capital LLC /s/ David R. Pelizzon David R. Pelizzon, President 12/17/2025 Squadron Capital Holdings LLC /s/ Mary Falcon Mary Falcon, Manager 12/17/2025 Jennifer N. Pritzker /s/ Jennifer N. Pritzker Jennifer N. Pritzker 12/17/2025 David R. Pelizzon /s/ David R. Pelizzon David R. Pelizzon 12/17/2025