This excerpt taken from the ATEC 10-K filed Mar 17, 2008.
9. Predecessor Stockholders Equity
FACE="Times New Roman" SIZE="2">Indemnification Settlement
Pursuant to the acquisition agreement, the stockholders of the Predecessor put $3.0 million in escrow in order to fund potential indemnification claims for losses incurred by the Company. The Company subsequently filed a claim for indemnification of $4.5 million in losses, primarily relating to obsolete inventory, certain tax liabilities and uncollectible accounts receivable. On March 3, 2007, the Company settled the claim and received $1.0 million, which was applied as a reduction of goodwill. The remaining $2.2 million in the escrow fund, including $0.2 million in interest earned, was returned to the former stockholders of Alphatec Manufacturing. Certain former stockholders of Alphatec Manufacturing used the proceeds from the distribution to purchase an aggregate of $1.1 million of the Companys common stock in a private placement.
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