Xtant Medical Holdings Enters Material Definitive Agreement

TL;DR

Xtant Medical Holdings just signed a big financial deal, details TBD.

AI Summary

On March 7, 2024, Xtant Medical Holdings, Inc. entered into a material definitive agreement related to a direct financial obligation. The company, formerly known as Bacterin International Holdings, Inc., filed this 8-K report to disclose this event. The filing does not specify the nature or amount of the financial obligation.

Why It Matters

This filing indicates a significant financial event for Xtant Medical Holdings, which could impact its financial obligations and operational capacity.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, which inherently carries financial risk for the company.

Key Players & Entities

• Xtant Medical Holdings, Inc. (company) — Registrant
• Bacterin International Holdings, Inc. (company) — Former company name
• March 7, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.000001 — ch registered Common stock, par value $0.000001 per share XTNT NYSE American LLC
• $17,000,000 — y") in an aggregate principal amount of $17,000,000, which was previously funded under the
• $10,000,000 — erm Credit Agreement, and an additional $10,000,000 tranche available solely at the discret
• $45,000 — g Facility, an origination fee equal to $45,000 under the Revolving Facility, an additi
• $17 Million — Increases Revolving Credit Facility to $17 Million with MidCap Financial" (furnished herew

Filing Documents

• form8-k.htm (8-K) — 56KB
• ex10-1.htm (EX-10.1) — 1107KB
• ex10-2.htm (EX-10.2) — 1194KB
• ex99-1.htm (EX-99.1) — 12KB
• ex99-1_001.jpg (GRAPHIC) — 3KB
• ex10-1_001.jpg (GRAPHIC) — 8KB
• ex10-2_001.jpg (GRAPHIC) — 8KB
• 0001493152-24-009247.txt ( ) — 2990KB
• xtnt-20240307.xsd (EX-101.SCH) — 3KB
• xtnt-20240307_lab.xml (EX-101.LAB) — 33KB
• xtnt-20240307_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement. On March 7, 2024 (the "Closing Date"), Xtant Medical Holdings, Inc. (the "Company"), as guarantor, and certain of its subsidiaries, Xtant Medical, Inc., Bacterin International, Inc., X-spine Systems, Inc. and Surgalign SPV, Inc., as borrowers (collectively, the "Borrowers"), entered into (i) an Amended and Restated Credit, Security and Guaranty Agreement (Term Loan) (the "Term Credit Agreement") with MidCap Financial Trust, in its capacity as agent, and the lenders from time to time party thereto, and (ii) an Amended and Restated Credit, Security and Guaranty Agreement (Revolving Loan) (the "Revolving Credit Agreement" and, together with the Term Credit Agreement, the "Credit Agreements") with MidCap Funding IV Trust, in its capacity as agent, and the lenders from time to time party thereto. These Credit Agreements amend and restate the Credit, Security and Guaranty Agreement, dated as of May 6, 2021 (Term Loan), as amended (the "Prior Term Credit Agreement"), and the Credit, Security and Guaranty Agreement, dated as of May 6, 2021 (Revolving Loan), as amended, in each case, by and among the Borrowers, the Company and MidCap Financial Trust and MidCap Funding IV Trust, as respective agents, and lenders from time to time party thereto. The Term Credit Agreement provides for a secured term loan facility (the "Term Facility") in an aggregate principal amount of $17,000,000, which was previously funded under the Prior Term Credit Agreement, and an additional $10,000,000 tranche available solely at the discretion of MidCap Financial Trust and the lenders, for the purposes agreed to between the Company, the Borrowers and the lenders in advance of the making of loans under such additional tranche. The Revolving Credit Agreement provides for a secured revolving credit facility (the "Revolving Facility" and, together with the Term Facility, the "Facilities") under which the Borrowers may borrow up to $17,000,000 (suc

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information provided in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03. Item 7.01 Regulation FD Disclosure. On March 7, 2024, the Company issued a press release announcing the Credit Agreements described in Item 1.01 of this Current Report on Form 8-K. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information contained in this Item 7.01 and Exhibit 99.1 to this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly provided by specific reference in such a filing. Item 9.01

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Amended and Restated Credit, Security and Guaranty Agreement (Term Loan), dated as of March 7, 2024, by and among Xtant Medical, Inc., Bacterin International, Inc., X-spine Systems, Inc., Surgalign SPV, Inc. and any additional borrower that hereafter becomes party thereto, Xtant Medical Holdings, Inc., and any additional guarantor that hereafter becomes party thereto, and MidCap Financial Trust, as agent, and the lenders from time to time party thereto (filed herewith) 10.2 Amended and Restated Credit, Security and Guaranty Agreement (Revolving Loan), dated as of March 7, 2024, by and among Xtant Medical, Inc., Bacterin International, Inc., X-spine Systems, Inc., Surgalign SPV, Inc. and any additional borrower that hereafter becomes party thereto, Xtant Medical Holdings, Inc., and any additional guarantor that hereafter becomes party thereto, and MidCap Funding IV Trust, as agent, and the lenders from time to time party thereto (filed herewith) 99.1 Press Release of Xtant Medical Holdings, Inc. dated March 7, 2024 entitled "Xtant Medical Increases Revolving Credit Facility to $17 Million with MidCap Financial" (furnished herewith) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. XTANT MEDICAL HOLDINGS, INC. By: /s/ Scott Neils Scott Neils Chief Financial Officer Date: March 7, 2024

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View this 8-K filing on SEC EDGAR