Xtant Medical gets $10.7M from Companion Spine
Xtant Medical Holdings, Inc. reported receiving a $10.7 million payment from Companion Spine on February 27, 2026.
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Rhea-AI Filing Summary
Xtant Medical Holdings, Inc. reported receiving a $10.7 million payment from Companion Spine on February 27, 2026. This payment covered full repayment of an $8.2 million unsecured promissory note, accrued interest, and net working capital and other purchase price adjustments related to prior divestitures.
These divestitures involved certain Coflex and CoFix assets and all shares of Paradigm Spine GmbH and now total an aggregate purchase price of $21.4 million. Xtant used $2.8 million of the proceeds to prepay part of its term loan with MidCap Financial Trust, leaving $11.1 million of principal outstanding.
8-K Event Classification
FAQ
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What payment did Xtant Medical (XTNT) receive from Companion Spine?
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How did Xtant Medical (XTNT) use the $10.7 million payment from Companion Spine?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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| Item 8.01 | Other Events. |
As previously announced, on December 1, 2025, Xtant Medical Holdings, Inc. (the “Company”) sold certain assets relating to its Coflex and CoFix products and all of the outstanding capital stock of its wholly owned subsidiary engaged in the operation of the Company’s hardware business outside of the United States, Paradigm Spine GmbH (“Paradigm”), to Companion Spine, LLC and/or one of its affiliates, Companion Spine SAS (collectively, “Companion Spine”), for a total aggregate purchase price of $19.2 million, subject to certain purchase price adjustments. As part of payment of the total purchase price, Companion Spine issued an unsecured promissory note in the principal amount of $8.2 million, which was scheduled to mature on January 31, 2026 (the “Note”).
On March 2, 2026, the Company announced that on February 27, 2026, the Company received from Companion Spine a $10.7 million payment, representing the repayment of the Note in full, accrued interest thereon, and payment in settlement of the net working capital and other purchase price adjustments under the Paradigm purchase agreement, bringing the total aggregate purchase price for the two divestitures to $21.4 million. Of the $10.7 million received by the Company from Companion Spine on February 27, 2026, $2.8 million was used to prepay a portion of the Company’s term loan with MidCap Financial Trust, resulting in $11.1 million of principal remaining outstanding under the term loan as of the date of the filing of this report.
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/ Sean E. Browne | |
| Sean E. Browne | ||
| President and Chief Executive Officer | ||
Date: March 2, 2026