other material
confidence high
sentiment neutral
materiality 0.80
OrbiMed affiliates sell ~73.1M Xtant shares at $0.42 to Nantahala; Nantahala to own 49.1%
Xtant Medical Holdings, Inc.
- OrbiMed affiliates selling 73.1M shares (all their XTNT shares) to Nantahala and other purchasers at $0.42/share.
- After closing, Nantahala will hold 49.1% of outstanding shares, becoming the largest stockholder.
- Company not a party to the stock purchase agreement; transaction privately negotiated.
- Credit agreements amended to raise change-in-control threshold to 49.9% to accommodate Nantahala's ownership.
- Company agrees to file resale registration statement for the shares within 30 days of closing.