Xtant Medical (XTNT) Registration Filing summary

Company overview and business model

• Designs, develops, and commercializes orthobiologics and spinal implant systems for spinal fusion in complex, deformity, and degenerative procedures, serving orthopedic and neurological surgeons.

• Operates primarily in the U.S. through independent distributors and agents, with additional international sales in Canada, Mexico, South America, Australia, and select Pacific countries.

• Maintains contracts with major group purchasing organizations (GPOs) and integrated delivery networks (IDNs) for broad market access.

Financial performance and metrics

• Recently completed a private placement of 7,812,500 shares at $0.64 per share, raising gross proceeds of approximately $5.0 million.

• As of August 28, 2024, 138,710,402 shares of common stock are outstanding.

• Outstanding warrants, options, and awards could further dilute ownership; as of June 30, 2024, there were warrants for 12,237,470 shares, options for 4,719,585 shares, and various stock unit awards.

Use of proceeds and capital allocation

• Will not receive proceeds from the resale of shares by selling stockholders; net proceeds from the recent private placement are allocated for working capital and general corporate purposes.

• Company bears all expenses related to the registration and offering.