- Xtant Medical Holdings ( NYSE: XTNT ) has entered into a securities purchase agreement to sell Xtant common stock and warrants to a select group of accredited investors led by Stavros Vizirgianakis, a successful biotechnology executive and investor.
- Subject to the terms, the investors have agreed to purchase ~20.3M newly issued shares of Xtant, at a price of $0.48/share, and warrants to purchase up to ~5.1M additional shares, with an exercise price of $0.48/share.
- The gross proceeds to the Co. from the transaction are expected to be ~$9.75M, before deducting estimated offering expenses payable by the Co.
- Xtant intends to use the net proceeds from the transaction to support working capital and other general corporate purposes.
For further details see:
Xtant announces $9.75M private investment