BELGRADE, Mont., Oct. 22, 2020 (GLOBE NEWSWIRE) — Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today announced that it has set November 5, 2020 as the record date for its previously-announced proposed rights offering of up to $15 million of shares of its common stock and the expected subscription period.
Subject to the registration statement relating to the rights offering becoming effective on or about November 3, 2020, the Company intends to commence the offering on November 5, 2020. At the commencement of the rights offering, each holder of common stock will receive 0.194539 non-transferable subscription rights for each share of common stock held on the record date. Each whole subscription right will entitle the holder to purchase one share of the Company’s common stock for $1.07 in cash. No fractional shares will be issued in the rights offering. Any fractional shares of common stock created by the exercise of rights will be rounded down to the nearest whole share. In addition, holders as of the record date will have an over-subscription privilege, pursuant to which they may be able to purchase additional shares at the subscription price, to the extent that not all subscription rights are exercised, subject to certain limitations.The Company expects that subscription materials will be mailed on or about November 6, 2020 to holders of the Company’s common stock as of the record date, and that the rights offering will close as soon as practicable after the anticipated December 4, 2020 expiration date. The Company may extend the rights offering for additional periods of time in its sole discretion.The expected calendar for the rights offering, unless extended or modified by the Company, is as follows:November 5, 2020 at 5:00 PM, New York City Time: Record DateNovember 6, 2020: Estimated Distribution Date; Subscription Period Estimated to BeginDecember 4, 2020 at 5:00 PM, New York City Time: Expiration Date; Subscription Period EndsDecember 8, 2020: Estimated Date of Distribution of Common StockImportant InformationA registration statement on Form S-1 relating to the rights offering has been filed with the Securities and Exchange Commission, but has not yet become effective. The shares of common stock issuable in the rights offering may not be sold nor may offers to buy such common stock be accepted prior to the time the registration statement becomes effective. The rights offering will be made only by means of a prospectus that meets the requirements of the Securities Act of 1933, as amended. For additional information on the rights offering, please see the prospectus included in the registration statement on Form S-1 and related amendments.This press release does not constitute an offer to sell or the solicitation of an offer to buy the shares of common stock issuable in the rights offering, nor will there be any sale of such common stock in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Xtant Medical Holdings, Inc.Xtant Medical Holdings, Inc. (www.xtantmedical.com) is a global medical technology company focused on the design, development, and commercialization of a comprehensive portfolio of orthobiologics and spinal implant systems to facilitate spinal fusion in complex spine, deformity and degenerative procedures. Xtant’s people are dedicated and talented, operating with the highest integrity to serve our customers.The symbols
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