Xtant Medical (NYSE: XTNT) extends Companion Spine note maturity
Rhea-AI Filing Summary
Xtant Medical Holdings reports an amendment to the financing terms tied to its prior divestitures of the Coflex/CoFix product assets and Paradigm Spine GmbH to Companion Spine. The original $17.5 million Coflex/CoFix divestiture included an unsecured promissory note of $8.2 million from Companion Spine, initially due on January 15, 2026. On January 15, 2026, the parties extended this note’s maturity date to January 31, 2026. At the same time, they revised the Paradigm Spine GmbH sale agreement to move payment of the estimated positive purchase price adjustment of $1,742,000 from January 15, 2026 to January 31, 2026, aligning both obligations on the same later date.
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8-K Event Classification
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| Item 8.01 | Other Events. |
As previously announced, on December 1, 2025, Xtant Medical Holdings, Inc. (the “Company”) and Surgalign SPV, Inc., a wholly owned subsidiary of the Company (together with the Company, the “Seller”), completed the sale of certain assets relating to the Company’s Coflex and CoFix products (the “Coflex/CoFix Divestiture”) to Companion Spine, LLC and one of its affiliates, Companion Spine SAS (collectively, “Companion Spine”), for a total purchase price of $17.5 million, subject to a closing inventory valuation adjustment set forth in the purchase agreement. Of the $17.5 million purchase price, $8.2 million was paid to the Seller in the form of an unsecured promissory note issued by Companion Spine to the Seller (the “Note”), which Note was scheduled to mature on January 15, 2026. Also, as previously announced, on December 1, 2025, the Company completed the sale of Paradigm Spine GmbH, a wholly owned subsidiary of the Company engaged in the operation of the Company’s hardware business outside of the United States (“Paradigm”), to Companion Spine SAS for a total purchase price of $1.7 million, subject to future adjustments for certain cash, indebtedness and net working capital adjustments. Any decrease in the purchase price for each of these divestitures as a result of the purchase price adjustments would reduce the principal amount of the Note.
On January 15, 2026, the Seller and Companion Spine amended the Note to extend the maturity date from January 15, 2026 to January 31, 2026 and amended the purchase agreement for the sale of Paradigm Spine GmbH to change the timing for payment of the $1,742,000 estimated positive purchase price adjustment under that agreement from January 15, 2026 to January 31, 2026.
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: January 16, 2026