Xtant Medical Raises $15M Via Equity Offering
Portfolio Pulse from Nabaparna Bhattacharya
Xtant Medical Holdings, Inc. (AMEX:XTNT) has entered into a securities purchase agreement to sell shares of its common stock in a private placement for $15 million. The company plans to issue 20 million shares at $0.75 per share. The proceeds will be used for working capital and other general corporate purposes. The closing of the private placement is expected to occur on July 6, 2023. Xtant Medical expects full-year 2023 revenue of $73 million-$75 million, representing annual growth of approximately 26% to 29% compared to 2022.
July 03, 2023 | 3:30 pm
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Xtant Medical is raising $15M through a private placement of its common stock. The funds will be used for working capital and other corporate purposes. The company's shares are currently trading lower.
The news of the private placement could be causing the current drop in Xtant Medical's share price as it often leads to dilution of existing shares. However, the raised funds will be used for working capital and other corporate purposes, which could potentially improve the company's financial health in the long term.
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