SURGALIGN HOLDINGS, INC.: M&A transaction — Surgalign completes Chapter 11 asset sales for $6.5M; warns stock holders may face full loss

SURGALIGN HOLDINGS, INC.

Hardware assets sold to Xtant Medical for $5M cash plus liability assumption; closed Aug 10, 2023.
Digital assets (HOLO AI/AR platform) sold to Augmedics for $1.5M cash; closed Aug 11, 2023.
Company cautions common stock trading is highly speculative and holders could experience significant or complete loss.
Bankruptcy Court approved both sales on Aug 9 and Aug 10, 2023, respectively.
Stock ceased NYSE listing on July 27, 2023; now trades OTC under SRGAQ.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

SURGALIGN HOLDINGS, INC. completed a disposition involving Xtant Medical Holdings, Inc. for aggregate cash purchase price of $5 million and assumption of Hardware Liabilities (closed 2023-08-10).

Action: disposition
Counterparty: Xtant Medical Holdings, Inc.
Consideration: aggregate cash purchase price of $5 million and assumption of Hardware Liabilities
Closing: 2023-08-10

Exact text from the filing

On August 10, 2023, pursuant to the Hardware Asset Purchase Agreement, the Company completed the Hardware Sale, for an aggregate cash purchase price of $5 million and the assumption by Xtant of the Hardware Liabilities, as described in the Hardware Asset Purchase Agreement.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

SURGALIGN HOLDINGS, INC. completed a disposition involving Augmedics, Inc. for total purchase price of $1.5 million in cash and assumption of Digital Liabilities (closed 2023-08-11).

Action: disposition
Counterparty: Augmedics, Inc.
Consideration: total purchase price of $1.5 million in cash and assumption of Digital Liabilities
Closing: 2023-08-11

Exact text from the filing

On August 11, 2023, pursuant to the Digital Asset Purchase Agreement, the Company and the Sellers completed the Digital Sale, for an aggregate cash purchase price of $1.5 million and the assumption by Augmedics of the Digital Liabilities, as described in the Digital Asset Purchase Agreement.

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Source: SEC EDGAR

accession 0001193125-23-215811

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