Xtant Medical Finalizes Companion Spine Transactions

Xtant received $10.7 million in satisfaction of unsecured promissory note issued to Xtant by Companion Spine plus related working capital adjustments

BELGRADE, Mont., March 2, 2026 /PRNewswire/ -- Xtant Medical Holdings, Inc. (NYSE American: XTNT), a medical technology company focused on surgical solutions for spinal and other orthopedic conditions, today announced that it has received $10.7 million from Companion Spine related to Companion Spine's purchase of Xtant's Coflex® assets and Paradigm OUS businesses in December 2025, bringing the total aggregate purchase price for the two divestitures to $21.4 million. With this payment, the transactions have now been finalized.

Of the $10.7 million recently received by Xtant, $8.2 million was in satisfaction of the unsecured promissory note issued to Xtant by Companion Spine, plus accrued interest thereon, and an additional $2.2 million related to settlement of working capital and other purchase price adjustments.    

Sean Browne, President and CEO of Xtant Medical, stated, "We are very pleased to finalize these transactions with Companion Spine, which place these assets and businesses with a recognized leader in the neuro-musculoskeletal space while allowing us to further sharpen our focus on our higher-margin biologics business. We wish Companion Spine much success in achieving the full market potential of these motion preservation technologies."

"Importantly, these additional funds will allow us to further reduce long-term debt while providing additional cash liquidity," Mr. Browne concluded.

About Xtant Medical Holdings, Inc.

Xtant Medical's mission of honoring the gift of donation so that our patients can live as full and complete a life as possible, is the driving force behind our company. Xtant Medical Holdings, Inc. (www.xtantmedical.com) is a global medical technology company focused on the design, development, and commercialization of a comprehensive portfolio of orthobiologics serving the chronic and surgical wound care and sports medicine markets, as well as spinal implant systems. Xtant people are dedicated and talented, operating with the highest integrity to serve our customers.

The symbols ™ and ® denote trademarks and registered trademarks of Xtant Medical Holdings, Inc. or its affiliates, registered as indicated in the United States, and in other countries. All other trademarks and trade names referred to in this release are the property of their respective owners.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that contain words such as "intends," ''expects,'' ''anticipates,'' ''plans,'' ''believes,'' ''estimates,'' "continue," "future," ''will,'' "potential," similar expressions or the negative thereof, and the use of future dates. Forward-looking statements in this release include the Company's expectations regarding the reduction of its long-term debt and increased liquidity. The Company cautions that its forward-looking statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others: the Company's future operating and financial performance and its ability to increase or maintain revenue; and other risk factors  contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (SEC) on March 6, 2025 and subsequent SEC filings by the Company, including without limitation its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the SEC on November 10, 2025. Investors are encouraged to read the Company's filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this cautionary statement. 

SOURCE Xtant Medical Holdings, Inc.