Xtant Medical Announces $15 Million Private Placement
03 Julio 2023 - 6:27AM
Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global
medical technology company focused on surgical solutions for the
treatment of spinal disorders, today announced it has entered into
a securities purchase agreement with accredited investors to sell
shares of its common stock in a private placement. The Company
agreed to issue an aggregate of 20,000,000 shares of common
stock at a purchase price of $0.75 per share, resulting in gross
proceeds of $15 million.
The Company expects to use the net proceeds from
the private placement for working capital and other general
corporate purposes. The closing of the private placement is
expected to occur on or about July 6, 2023, subject to the
satisfaction of customary closing conditions.
Craig-Hallum Capital Group LLC is acting as sole
placement agent for the private placement.
The private placement is being made pursuant to
the exemption from securities registration under Section 4(a)(2) of
the Securities Act of 1933, as amended, and Rule 506 of Regulation
D as promulgated by the United States Securities and Exchange
Commission (SEC), and the shares being sold in the private
placement may not be offered or sold in the United States absent
registration with the SEC or an applicable exemption from such
registration requirements. The Company has agreed to file a
registration statement with the SEC covering the resale of the
shares of common stock issued in the private placement.
This release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Xtant Medical Holdings,
Inc.
Xtant Medical Holdings, Inc.
(www.xtantmedical.com) is a global medical technology company
focused on the design, development, and commercialization of a
comprehensive portfolio of orthobiologics and spinal implant
systems to facilitate spinal fusion in complex spine, deformity and
degenerative procedures. Xtant people are dedicated and talented,
operating with the highest integrity to serve our customers.
The symbols ™ and ® denote trademarks and
registered trademarks of Xtant Medical Holdings, Inc. or its
affiliates, registered as indicated in the United States, and in
other countries. All other trademarks and trade names referred to
in this release are the property of their respective owners.
Cautionary Statement Regarding
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include statements
that are predictive in nature, that depend upon or refer to future
events or conditions, or that include words such as “intends,”
‘‘expects,’’ ‘‘anticipates,’’ ‘‘plans,’’ ‘‘believes,’’
‘‘estimates,’’ “continue,” “future,” ‘‘will,’’ “potential,” “going
forward,” similar expressions or the negative thereof, and the use
of future dates. Forward-looking statements in this release include
the Company’s expectations regarding the private placement, the
timing for closing and the anticipated gross proceeds and use of
net proceeds from the private placement. The Company cautions that
its forward-looking statements by their nature involve risks and
uncertainties, and actual results may differ materially depending
on a variety of important factors, including, among others: risks
and uncertainties surrounding the results of the private placement;
the Company’s future operating results and financial performance;
its ability to increase or maintain revenue; risks associated with
its recent acquisition of the Coflex product line; possible future
impairment charges to long-lived assets and goodwill and
write-downs of excess inventory if revenues decrease; the ability
to remain competitive; the ability to innovate, develop and
introduce new products; the ability to engage and retain new and
existing independent distributors and agents and qualified
personnel and the Company’s dependence on key independent agents
for a significant portion of its revenue; the effect of COVID-19,
labor and hospital staffing shortages on the Company’s business,
operating results and financial condition, especially when they
affect key markets; the Company’s ability to implement successfully
its future growth initiatives and risks associated therewith; the
effect of inflation, increased interest rates and other
recessionary factors and supply chain disruptions; the effect of
product sales mix changes on the Company’s financial results;
government and third-party coverage and reimbursement for Company
products; the ability to obtain and maintain regulatory approvals
and comply with government regulations; the effect of product
liability claims and other litigation to which the Company may be
subject; the effect of product recalls and defects; the ability to
obtain and protect Company intellectual property and proprietary
rights and operate without infringing the rights of others; the
ability to service Company debt, comply with its debt covenants and
access additional indebtedness; the ability to obtain additional
financing on favorable terms or at all; and other factors.
Additional risk factors are contained in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2022 filed with
the SEC on March 8, 2023 and subsequent SEC filings by the Company,
including without limitation its most recent Quarterly Report on
Form 10-Q for the quarterly period ended March 31, 2023 anticipated
to be filed with the SEC. Investors are encouraged to read the
Company’s filings with the SEC, available at www.sec.gov, for a
discussion of these and other risks and uncertainties. The Company
undertakes no obligation to release publicly any revisions to any
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events, except as required by law. All forward-looking statements
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by this cautionary
statement.
Investor Relations Contact
David CareyLazar FINNPh: 212-867-1762Email:
david.carey@finnpartners.com
Xtant Medical (AMEX:XTNT)
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