---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-025963"
form_type: "8-K"
ticker: "XTNT"
cik: "0001453593"
company_name: "Xtant Medical Holdings, Inc."
filed_at: "2025-12-03T23:59:59+00:00"
generated_at: "2026-05-16T15:06:52.216911+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Xtant completes sale of Coflex/CoFix and Paradigm OUS to Companion Spine for $19.2M

## Summary
- Total consideration $19.2M: $11.0M cash plus $8.2M unsecured promissory note maturing Jan 15, 2026.
- Net cash proceeds used to prepay $8.0M of MidCap term loan; $14.4M remains outstanding, with up to $1.6M additional prepayment upon note repayment.
- Pro forma revenue for nine months ended Sep 30, 2025 would be $85.2M (vs $101.6M reported); net income $6.8M (vs $4.9M) including estimated $3.9M gain.
- CEO states net proceeds and operating cash flows expected to eliminate need for additional external capital.
- Divestiture represents Xtant's shift to focus on core biologics business.

## SEC filing metadata
- accession: 0001493152-25-025963
- form_type: 8-K
- ticker: XTNT
- cik: 0001453593
- company_name: Xtant Medical Holdings, Inc.
- filed_at: 2025-12-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 2.04, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1453593/000149315225025963/0001493152-25-025963-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1453593/000149315225025963/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-025963
- JSON: https://secwatch.observer/filing/0001493152-25-025963.json
- Plain text: https://secwatch.observer/filing/0001493152-25-025963.txt

## Source-grounded claims
- claim_id: dd18f471463a610e4f67ee0a43179a58968f5f2c
  claim: Xtant Medical Holdings, Inc. faced acceleration on term loan of approximately $8.0 million with MidCap Financial Trust.
  evidence_excerpt: approximately $8.0 million of the net cash proceeds received by the Company from the Divestitures (including previous deposits received) was used to prepay a portion of the Company’s term loan with MidCap, resulting in $14.4 million remaining outstanding under the term loan as of December 1, 2025, of which up to an additional $1.6 million will be required to be prepaid if and when the Companion Spine Note is repaid by Companion Spine.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1453593/000149315225025963/0001493152-25-025963-index.htm
- claim_id: 0c7d7a2d1fdbbab6505c3059f07228629e08e8c6
  claim: Xtant Medical Holdings, Inc. completed a disposition involving Companion Spine SAS for $1.7 million (closed 2025-12-01).
  evidence_excerpt: Companion Spine (the “Paradigm Agreement” and together with the Coflex/CoFix Agreement, the “Divestiture Agreements”). The total purchase price of the Paradigm Divestiture was $1.7 million (the “Paradigm Purchase Price”), which was paid to the Company in cash at the closing of the Paradigm Divestiture. The Paradigm Purchase Price is subject to future adjustments
  evidence_url: https://www.sec.gov/Archives/edgar/data/1453593/000149315225025963/0001493152-25-025963-index.htm
- claim_id: e2765e1c7eeb33f34629f925e294e5b8bd485814
  claim: Xtant Medical Holdings, Inc. completed a disposition involving Companion Spine, LLC and one of its affiliates, Companion Spine SAS for $17.5 million (closed 2025-12-01).
  evidence_excerpt: Asset Purchase Agreement dated July 7, 2025 between the Seller and Companion Spine (the “Coflex/CoFix Agreement”). The total purchase price of the Coflex/CoFix Divestiture was $17.5 million (subject to a closing inventory valuation adjustment set forth in the Coflex/CoFix Agreement) (the “Coflex/CoFix Purchase Price”). Of the total purchase price, an aggregate of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1453593/000149315225025963/0001493152-25-025963-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.