collectively , the alphatec executive leadership team has over 150 years of combined spine-experience . we have also reconstituted our board of directors since late 2016 , adding significant spine industry and capital markets expertise . recent developments on march 8 , 2018 , we announced the acquisition of safeop surgical , inc. , or safeop . safeop was a privately-held provider of neuromonitoring technology designed to enable effective intra-operative nerve health assessment . with the full integration of safeop 's technology , we expect to be able to introduce an unprecedented level of neuromonitoring and intraoperative nerve safety to the spine market in early 2019. safeop 's patented technology has been designed to enable both nerve avoidance and nerve health assessment to prevent the risk of nerve injury that is widely associated with direct lateral spine fusion surgery . on march 8 , 2018 , we completed a $ 39.7 million first close of a $ 45.2 million private placement of our securities to certain institutional and accredited investors , including certain directors and executive officers of the company . the second close of the private placement is expected to occur within five business days . the private placement was led by l-5 healthcare partners , an institutional investor , and provides for the sale by the company of approximately 14.3 shares of newly created series b convertible preferred stock , which are automatically convertible into approximately 14.3 million shares of common stock ( representing a purchase price of $ 3.15 per common share ) , upon approval by alphatec 's stockholders , as required in accordance with the nasdaq global select market rules . purchasers also received warrants to purchase up to approximately 12.2 million shares of common stock at an exercise price of $ 3.50 per share . in addition , the company entered into an agreement with armistice capital , an existing investor , to exercise 2.4 million warrants to purchase common shares for gross proceeds of $ 4.8 million in exchange for warrants to purchase up to 1,800,000 shares of common stock at an exercise price of $ 3.50 per share . the new warrants will be exercisable following approval by alphatec stockholders , and will expire 5 years from the date of such stockholder approval . certain directors and 40 executive officers of alphatec agreed to purchase an aggregate of $ 6.4 mil lion of shares of series b convertible preferred stock , which shares are convertible into approximately 2.1 million shares of common stock ( representing a purchase price of $ 3.15 per common share ) , and warrants to purchase up to 1.7 million shares of commo n stock at a price of $ 3.50 per share . we paid $ 15 million of the net proceeds from the private placement fund the cash purchase price for safeop , and will use the remaining net proceeds for working capital and general corporate purposes , including the in tegration of next-generation neuromonitoring solutions , advancement of our product pipeline , and investment in sales and marketing to expand our market presence . sale of international business on september 1 , 2016 , we completed the sale of our international distribution operations and agreements , including our wholly-owned subsidiaries in japan , brazil , australia , china and singapore and substantially all of the assets of our other sales operations in the united kingdom and italy , or collectively the international business , to an affiliate of globus ( “ globus transaction ” ) . following the closing of the globus transaction , we now operate in the u.s. market only and are prohibited from marketing and selling our products in foreign markets pursuant to the terms and conditions , and for the time periods , set forth in the definitive documents related to the globus transaction . at the closing of the globus transaction on september 1 , 2016 , globus paid us $ 80 million in cash . on september 1 , 2016 , we used approximately $ 66 million of the consideration received to ( i ) repay in full all amounts outstanding and due under the deerfield facility agreement , and ( ii ) repay certain of our outstanding indebtedness under our amended credit facility , in each case , including debt-related costs . also on september 1 , 2016 , we entered into the credit , security and guaranty agreement with globus , or the globus facility agreement , pursuant to which globus has agreed to loan us up to $ 30 million , subject to the terms and conditions set forth in the globus facility agreement . on august 24 , 2016 , we filed a certificate of amendment to the company 's certificate of incorporation with the secretary of state of the state of delaware to effectuate a 1-for-12 reverse stock split of our issued and outstanding common stock . the share and per share amounts in the discussion below gives retrospective effect to the 1-for-12 reverse stock split for all periods presented . revenue and expense components the following is a description of the primary components of our revenues and expenses : revenues . we derive our revenues primarily from the sale of spinal surgery implants used in the treatment of spine disorders . spinal implant products include pedicle screws and complementary implants , interbody devices , plates , and tissue-based materials . our revenues are generated by our direct sales force and independent distributors . our products are requested directly by surgeons and shipped and billed to hospitals and surgical centers . currently , most of our business is conducted with customers within markets in which we have experience and with payment terms that are customary to our business . we may defer revenues until the time of collection if circumstances related to payment terms , regional market risk or customer history indicate that collectability is not reasonably assured . cost of revenues . story_separator_special_tag operating losses and negative cash flows may continue for at least the next year as we continue to incur costs related to the execution of our operating plan and introduction of new products . on march 8 , 2018 , we completed a $ 39.7 million first close of a $ 45.2 million private placement of our securities to certain institutional and accredited investors , including certain directors and executive officers of the company . the second close of the private placement is expected to occur within five business days . the private placement was led by l-5 healthcare partners , an institutional investor , and provides for the sale by the company of approximately 14.3 shares of newly created series b convertible preferred stock , which are automatically convertible into approximately 14.3 million shares of common stock ( representing a purchase price of $ 3.15 per common share ) , upon approval by alphatec 's stockholders , as required in accordance with the nasdaq global select market rules . purchasers also received warrants to purchase up to approximately 12.2 million shares of common stock at an exercise price of $ 3.50 per share . in addition , the company entered into an agreement with armistice capital , an existing investor , to exercise 2.4 million warrants to purchase common shares for gross proceeds of $ 4.8 million in exchange for warrants to purchase up to 1,800,000 shares of common stock at an exercise price of $ 3.50 per share . the new warrants will be exercisable following approval by alphatec stockholders , and will expire 5 years from the date of such stockholder approval . certain directors and 45 executive officers of alphatec agreed to p urchase an aggregate of $ 6.4 million of shares of series b convertible preferred stock , which shares are convertible into approximately 2.1 million shares of common stock ( representing a purchase price of $ 3.15 per common share ) , and warrants to purchase up to 1.7 million shares of common stock at a price of $ 3.50 per share . we paid $ 15 million of the net proceeds from the private placement fund the cash purchase price for safeop , and will use the remaining net proceeds for working capital and general cor porate purposes , including the integration of next-generation neuromonitoring solutions , advancement of our product pipeline , and investment in sales and marketing to expand our market presence . on october 2 , 2017 , we entered into securities purchase agreements ( collectively , the “ purchase agreements ” ) with accredited investors patrick miles and quentin blackford ( collectively , the “ purchasers ” ) , pursuant to which messrs. miles and blackford have agreed to purchase from the company , collectively , no less than 1,549,116 and as many as 1,769,912 shares of its common stock at a purchase price of $ 2.26 per share . in december 2017 , the company issued 1,769,912 shares for gross proceeds of $ 4 million . in connection with the private placement in march 2017 where we issued series a convertible preferred stock and common stock , we also issued warrants to purchase 9.4 million shares of our common stock at an exercise price of $ 2.00 per share and warrants to purchase 0.5 million shares of our common stock at an exercise price of $ 2.50 per share , for aggregate proceeds , if exercised , of approximately $ 20.0 million . during 2017 we received proceeds of approximately $ 3.3 million in connection with exercise of approximately 1.7 million warrants . we may seek additional funds from public and private equity or debt financings , borrowings under new or existing debt facilities or other sources to fund our projected operating requirements . however , there is no guarantee that we will be able to obtain further financing , or do so on reasonable terms . if we are unable to raise additional funds on a timely basis , or at all , we would be materially adversely affected . a substantial portion of our available cash funds is held in business accounts with reputable financial institutions . at times , however , our deposits , may exceed federally insured limits and thus we may face losses in the event of insolvency of any of the financial institutions where our funds are deposited . we did not hold any marketable securities as of december 31 , 2017. story_separator_special_tag roman ; font-size:10pt ; font-weight : normal ; text-transform : none ; font-variant : normal ; `` > investing activities we used cash of $ 6.5 million in investing activities for the year ended december 31 , 2017 , primarily for the purchase of surgical instruments of $ 7.6 million , net of $ 1.1 million of cash received from sale of instruments . financing activities financing activities provided net cash of $ 17.8 million for the year ended december 31 , 2017 , primarily attributable to our 2017 private placement , which provided net cash proceeds of $ 17.1 million , and issuance of common stock to certain board of directors for $ 3.7 million , exercise of warrants issued in our 2017 private placement of $ 3.3 million and issuance of common stock under the employee stock purchase plan of $ 0.2 million . under the midcap amended credit facility , we made net payments of $ 2.2 million during the year ended december 31 , 2017. we also made principal payments on notes payable and capital leases totaling $ 4.4 million in the year ended december 31 , 2017 . 47 contractual obligations and commercial commitments total contractual obligations and commercial commitments as of december 31 , 2017 are summarized in the following table ( in thousands ) : replace_table_token_5_th ( 1 ) based on our closing stock price as of december 30 , 2017 , the last trading date of the fiscal year , of

amended credit facility and other debt on august 30 , 2013 , we entered into the amended credit facility , which amended and restated the prior credit facility that we had with midcap . on september 1 , 2016 , we entered into a fifth amendment to the midcap amended facility agreement , or the midcap fifth amendment , that : ( a ) permitted ( i ) the globus transaction , ( ii ) the release of alphatec international llc and alphatec pacific , inc. as credit parties , ( iii ) the payment in full of all obligations to deerfield under the facility agreement between us and deerfield , dated as of march 17 , 2014 , as amended to date , or the deerfield facility agreement , and ( iv ) the incurrence of debt under the globus facility agreement and the granting of liens in favor of globus , ( b ) reduced the revolving credit commitment to $ 22.5 million and the term loan commitment to $ 5 million , ( c ) revised the existing financial covenant package , and ( d ) extended the commitment expiry date from december 31 , 2016 to december 31 , 2019. in connection with the prepayment of the term loan under the amended credit facility , we incurred a prepayment fee of $ 0.6 million payable to midcap . on march 30 , 2017 , we entered into a sixth amendment to the amended credit facility to extend the date that the financial covenants of the amended credit facility are effective from april 2017 to april 2018 , and on march 8 , 2018 , we entered into a seventh amendment to the amended credit facility to extend the date that the financial covenants of the amended credit facility are effective from april 2017 to april 2019 , and established a minimum liquidity covenant of $ 5.0 million through march 31 , 2019. the term loan interest rate is priced at the london interbank offered rate , or libor , plus 8.0 % , subject to a 9.5 % floor , and the revolving line of credit interest rate remains priced at libor plus 6.0 % , reset monthly .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```amended credit facility and other debt on august 30 , 2013 , we entered into the amended credit facility , which amended and restated the prior credit facility that we had with midcap . on september 1 , 2016 , we entered into a fifth amendment to the midcap amended facility agreement , or the midcap fifth amendment , that : ( a ) permitted ( i ) the globus transaction , ( ii ) the release of alphatec international llc and alphatec pacific , inc. as credit parties , ( iii ) the payment in full of all obligations to deerfield under the facility agreement between us and deerfield , dated as of march 17 , 2014 , as amended to date , or the deerfield facility agreement , and ( iv ) the incurrence of debt under the globus facility agreement and the granting of liens in favor of globus , ( b ) reduced the revolving credit commitment to $ 22.5 million and the term loan commitment to $ 5 million , ( c ) revised the existing financial covenant package , and ( d ) extended the commitment expiry date from december 31 , 2016 to december 31 , 2019. in connection with the prepayment of the term loan under the amended credit facility , we incurred a prepayment fee of $ 0.6 million payable to midcap . on march 30 , 2017 , we entered into a sixth amendment to the amended credit facility to extend the date that the financial covenants of the amended credit facility are effective from april 2017 to april 2018 , and on march 8 , 2018 , we entered into a seventh amendment to the amended credit facility to extend the date that the financial covenants of the amended credit facility are effective from april 2017 to april 2019 , and established a minimum liquidity covenant of $ 5.0 million through march 31 , 2019. the term loan interest rate is priced at the london interbank offered rate , or libor , plus 8.0 % , subject to a 9.5 % floor , and the revolving line of credit interest rate remains priced at libor plus 6.0 % , reset monthly .
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 Suspicious Activity Report : collectively , the alphatec executive leadership team has over 150 years of combined spine-experience . we have also reconstituted our board of directors since late 2016 , adding significant spine industry and capital markets expertise . recent developments on march 8 , 2018 , we announced the acquisition of safeop surgical , inc. , or safeop . safeop was a privately-held provider of neuromonitoring technology designed to enable effective intra-operative nerve health assessment . with the full integration of safeop 's technology , we expect to be able to introduce an unprecedented level of neuromonitoring and intraoperative nerve safety to the spine market in early 2019. safeop 's patented technology has been designed to enable both nerve avoidance and nerve health assessment to prevent the risk of nerve injury that is widely associated with direct lateral spine fusion surgery . on march 8 , 2018 , we completed a $ 39.7 million first close of a $ 45.2 million private placement of our securities to certain institutional and accredited investors , including certain directors and executive officers of the company . the second close of the private placement is expected to occur within five business days . the private placement was led by l-5 healthcare partners , an institutional investor , and provides for the sale by the company of approximately 14.3 shares of newly created series b convertible preferred stock , which are automatically convertible into approximately 14.3 million shares of common stock ( representing a purchase price of $ 3.15 per common share ) , upon approval by alphatec 's stockholders , as required in accordance with the nasdaq global select market rules . purchasers also received warrants to purchase up to approximately 12.2 million shares of common stock at an exercise price of $ 3.50 per share . in addition , the company entered into an agreement with armistice capital , an existing investor , to exercise 2.4 million warrants to purchase common shares for gross proceeds of $ 4.8 million in exchange for warrants to purchase up to 1,800,000 shares of common stock at an exercise price of $ 3.50 per share . the new warrants will be exercisable following approval by alphatec stockholders , and will expire 5 years from the date of such stockholder approval . certain directors and 40 executive officers of alphatec agreed to purchase an aggregate of $ 6.4 mil lion of shares of series b convertible preferred stock , which shares are convertible into approximately 2.1 million shares of common stock ( representing a purchase price of $ 3.15 per common share ) , and warrants to purchase up to 1.7 million shares of commo n stock at a price of $ 3.50 per share . we paid $ 15 million of the net proceeds from the private placement fund the cash purchase price for safeop , and will use the remaining net proceeds for working capital and general corporate purposes , including the in tegration of next-generation neuromonitoring solutions , advancement of our product pipeline , and investment in sales and marketing to expand our market presence . sale of international business on september 1 , 2016 , we completed the sale of our international distribution operations and agreements , including our wholly-owned subsidiaries in japan , brazil , australia , china and singapore and substantially all of the assets of our other sales operations in the united kingdom and italy , or collectively the international business , to an affiliate of globus ( “ globus transaction ” ) . following the closing of the globus transaction , we now operate in the u.s. market only and are prohibited from marketing and selling our products in foreign markets pursuant to the terms and conditions , and for the time periods , set forth in the definitive documents related to the globus transaction . at the closing of the globus transaction on september 1 , 2016 , globus paid us $ 80 million in cash . on september 1 , 2016 , we used approximately $ 66 million of the consideration received to ( i ) repay in full all amounts outstanding and due under the deerfield facility agreement , and ( ii ) repay certain of our outstanding indebtedness under our amended credit facility , in each case , including debt-related costs . also on september 1 , 2016 , we entered into the credit , security and guaranty agreement with globus , or the globus facility agreement , pursuant to which globus has agreed to loan us up to $ 30 million , subject to the terms and conditions set forth in the globus facility agreement . on august 24 , 2016 , we filed a certificate of amendment to the company 's certificate of incorporation with the secretary of state of the state of delaware to effectuate a 1-for-12 reverse stock split of our issued and outstanding common stock . the share and per share amounts in the discussion below gives retrospective effect to the 1-for-12 reverse stock split for all periods presented . revenue and expense components the following is a description of the primary components of our revenues and expenses : revenues . we derive our revenues primarily from the sale of spinal surgery implants used in the treatment of spine disorders . spinal implant products include pedicle screws and complementary implants , interbody devices , plates , and tissue-based materials . our revenues are generated by our direct sales force and independent distributors . our products are requested directly by surgeons and shipped and billed to hospitals and surgical centers . currently , most of our business is conducted with customers within markets in which we have experience and with payment terms that are customary to our business . we may defer revenues until the time of collection if circumstances related to payment terms , regional market risk or customer history indicate that collectability is not reasonably assured . cost of revenues . story_separator_special_tag operating losses and negative cash flows may continue for at least the next year as we continue to incur costs related to the execution of our operating plan and introduction of new products . on march 8 , 2018 , we completed a $ 39.7 million first close of a $ 45.2 million private placement of our securities to certain institutional and accredited investors , including certain directors and executive officers of the company . the second close of the private placement is expected to occur within five business days . the private placement was led by l-5 healthcare partners , an institutional investor , and provides for the sale by the company of approximately 14.3 shares of newly created series b convertible preferred stock , which are automatically convertible into approximately 14.3 million shares of common stock ( representing a purchase price of $ 3.15 per common share ) , upon approval by alphatec 's stockholders , as required in accordance with the nasdaq global select market rules . purchasers also received warrants to purchase up to approximately 12.2 million shares of common stock at an exercise price of $ 3.50 per share . in addition , the company entered into an agreement with armistice capital , an existing investor , to exercise 2.4 million warrants to purchase common shares for gross proceeds of $ 4.8 million in exchange for warrants to purchase up to 1,800,000 shares of common stock at an exercise price of $ 3.50 per share . the new warrants will be exercisable following approval by alphatec stockholders , and will expire 5 years from the date of such stockholder approval . certain directors and 45 executive officers of alphatec agreed to p urchase an aggregate of $ 6.4 million of shares of series b convertible preferred stock , which shares are convertible into approximately 2.1 million shares of common stock ( representing a purchase price of $ 3.15 per common share ) , and warrants to purchase up to 1.7 million shares of common stock at a price of $ 3.50 per share . we paid $ 15 million of the net proceeds from the private placement fund the cash purchase price for safeop , and will use the remaining net proceeds for working capital and general cor porate purposes , including the integration of next-generation neuromonitoring solutions , advancement of our product pipeline , and investment in sales and marketing to expand our market presence . on october 2 , 2017 , we entered into securities purchase agreements ( collectively , the “ purchase agreements ” ) with accredited investors patrick miles and quentin blackford ( collectively , the “ purchasers ” ) , pursuant to which messrs. miles and blackford have agreed to purchase from the company , collectively , no less than 1,549,116 and as many as 1,769,912 shares of its common stock at a purchase price of $ 2.26 per share . in december 2017 , the company issued 1,769,912 shares for gross proceeds of $ 4 million . in connection with the private placement in march 2017 where we issued series a convertible preferred stock and common stock , we also issued warrants to purchase 9.4 million shares of our common stock at an exercise price of $ 2.00 per share and warrants to purchase 0.5 million shares of our common stock at an exercise price of $ 2.50 per share , for aggregate proceeds , if exercised , of approximately $ 20.0 million . during 2017 we received proceeds of approximately $ 3.3 million in connection with exercise of approximately 1.7 million warrants . we may seek additional funds from public and private equity or debt financings , borrowings under new or existing debt facilities or other sources to fund our projected operating requirements . however , there is no guarantee that we will be able to obtain further financing , or do so on reasonable terms . if we are unable to raise additional funds on a timely basis , or at all , we would be materially adversely affected . a substantial portion of our available cash funds is held in business accounts with reputable financial institutions . at times , however , our deposits , may exceed federally insured limits and thus we may face losses in the event of insolvency of any of the financial institutions where our funds are deposited . we did not hold any marketable securities as of december 31 , 2017. story_separator_special_tag roman ; font-size:10pt ; font-weight : normal ; text-transform : none ; font-variant : normal ; `` > investing activities we used cash of $ 6.5 million in investing activities for the year ended december 31 , 2017 , primarily for the purchase of surgical instruments of $ 7.6 million , net of $ 1.1 million of cash received from sale of instruments . financing activities financing activities provided net cash of $ 17.8 million for the year ended december 31 , 2017 , primarily attributable to our 2017 private placement , which provided net cash proceeds of $ 17.1 million , and issuance of common stock to certain board of directors for $ 3.7 million , exercise of warrants issued in our 2017 private placement of $ 3.3 million and issuance of common stock under the employee stock purchase plan of $ 0.2 million . under the midcap amended credit facility , we made net payments of $ 2.2 million during the year ended december 31 , 2017. we also made principal payments on notes payable and capital leases totaling $ 4.4 million in the year ended december 31 , 2017 . 47 contractual obligations and commercial commitments total contractual obligations and commercial commitments as of december 31 , 2017 are summarized in the following table ( in thousands ) : replace_table_token_5_th ( 1 ) based on our closing stock price as of december 30 , 2017 , the last trading date of the fiscal year , of

