Xtant acquires Surgalign assets; Surgalign reports Q1 2023 revenue $16.7M, net income $4.1M with going concern doubt

Xtant Medical Holdings, Inc.

Surgalign Q1 2023 revenue $16.7M (down 19% YoY); net income $4.1M included $12.6M gain on Coflex sale.
Surgalign had $22.4M cash, $620M accumulated deficit; management expressed substantial doubt about going concern.
Surgalign not in compliance with Nasdaq listing requirements as of April 2023.
Xtant acquired Coflex/Cofix product lines for $17M cash; this 8-K/A provides Surgalign historical financials.
Pro forma condensed combined financial statements filed, giving effect to the acquisition.

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