BELGRADE, Mont. - Xtant Medical Holdings (NYSE:XTNT), Inc. (NYSE American: XTNT), a company specializing in surgical solutions for spinal disorders, has amended its financial agreements with MidCap Financial Trust.
The amendments include an increase in the revolving credit facility from $8 million to $17 million, and an additional $10 million term loan tranche available for acquisitions at the lender's discretion.
The maturity dates for Xtant’s credit facility and term loan have been extended to March 1, 2029. Furthermore, the amendments have reset minimum net product revenue requirements and removed minimum Adjusted EBITDA requirements. The interest rate margin for the term loan has also been reduced from 7.00% to 6.50%.
Sean Browne, President and CEO of Xtant Medical, expressed satisfaction with the expansion of the company's revolving credit facility, which is intended to support Xtant's rapid growth. Browne highlighted the need for additional capital to cover inventory and other working capital requirements as the company advances on its growth strategy.
Xtant Medical is known for its development and commercialization of orthobiologics and spinal implant systems. The company emphasizes integrity and dedication in serving its customers.
The information in this article is based on a press release statement from Xtant Medical Holdings, Inc. The press release also contains forward-looking statements regarding the company’s growth initiatives and financial position, which are subject to risks and uncertainties.
These statements are not guarantees of future performance, and actual results may differ materially. Investors are advised to consult the company’s filings with the Securities and Exchange Commission for a thorough understanding of these risks.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.