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An announcement from Xtant Medical Holdings (XTNT) is now available.
Xtant Medical Holdings, Inc. has revamped its financial structure by entering into revised credit agreements with MidCap Financial Trust and its associated lenders, enhancing its borrowing capabilities. Under the new terms, the company has access to a $17 million term loan facility and an additional $10 million contingent on lender approval, as well as a $17 million revolving credit facility, with borrowing capacity based on a formula tied to accounts receivable and inventory. These facilities mature on March 1, 2029, and are backed by the company’s assets, including a first-priority lien on all inventory, equipment, and intellectual property. Interest rates are pegged to the SOFR Interest Rate plus a margin, and various fees apply, including for unused lines and early repayment. The agreements also impose financial covenants and operating restrictions to maintain the company’s fiscal discipline.
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