Full Press Release Details
Completes New Credit
Project: XTNT: SVB Facility PR - Xtant
Version: 7 - Updated on May 26 2016 at 15:08 by Molly Mason
Xtant Medical Completes New Accounts Receivable Revolver Credit
Facility with Silicon Valley Bank
facility provides additional working capital to continue Company market expansion plans
BELGRADE, Mont., May 26, 2016 (GLOBE NEWSWIRE) -- Xtant Medical
Holdings, Inc. (NYSE MKT: XTNT), a leader in the development, manufacturing and marketing of orthopedic products for domestic and
international markets, today announced the completion of an accounts receivable revolver credit facility with Silicon Valley Bank
to provide up to $6 million in funds to the Company.
Dan Goldberger, Chief Executive Officer, commented, "We are
extremely pleased to announce this new credit facility, which improves our financial flexibility, allowing us to continue execution
of our near-term growth strategy. We now have additional liquidity available to build inventories to meet the backlog of demand
for our products. This new credit facility is an important milestone in the continued growth of our Company"
Priya Iyer, Director with SVB's Life Sciences and Healthcare Practice,
added, "We're thrilled to be partnered with Xtant Medical Holdings, as the Company continues to expand its portfolio
of orthopedic products to improve the quality of patient's lives. Our objective is to provide the Xtant team with the right financing,
connections and global services that they need to meet their corporate objectives."
About Xtant Medical Holdings
Xtant Medical Holdings, Inc. (NYSE MKT:XTNT) is a leader
in the development, manufacturing and marketing of orthopedic products for domestic and international markets. Xtant products serve
the specialized needs of orthopedic and neurological surgeons, including orthobiologics for the promotion of bone healing, implants
and instrumentation for the treatment of spinal disease, tissue grafts for the treatment of orthopedic disorders, and biologics
to promote healing following cranial, and foot and ankle surgeries. With core competencies in both biologic and non-biologic surgical
technologies, Xtant can leverage its resources to successfully compete in global neurological and orthopedic surgery markets. For
further information, please visit www.xtantmedical.com.
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative
companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its
offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address
the unique needs of innovators. Learn more at svb.com.
Silicon Valley Bank is the California bank subsidiary of SVB Financial Group. Silicon Valley Bank is a member of FDIC and Federal
Reserve System. SVB, SVB Financial Group, and Silicon Valley Bank, are trademarks of SVB Financial Group, used under license.
Important Cautions Regarding Forward-looking Statements
This press release contains certain disclosures that may be deemed
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to significant
risks and uncertainties. Forward-looking statements include statements that are predictive in nature, that depend upon or refer
to future events or conditions, or that include words such as "continue," "efforts," "expects," "anticipates,"
"intends," "plans," "believes," "estimates," "projects," "forecasts,"
"strategy," "will," "goal," "target," "prospects," "potential," "optimistic,"
"confident," "likely," "probable" or similar expressions or the negative thereof.
Statements of historical fact also may be deemed to be forward-looking
statements. We caution that these statements by their nature involve risks and uncertainties, and actual results may differ materially
depending on a variety of important factors, including, among others: our ability to integrate the acquisition of X-spine Systems,
Inc. and any other business combinations or acquisitions successfully; our ability to remain listed on the NYSE MKT; our ability
to obtain financing on reasonable terms; our ability to increase revenue; our ability to comply with the covenants in our credit
facility; our ability to maintain sufficient liquidity to fund our operations; the ability of our sales force to achieve expected
results; our ability to remain competitive; government regulations; our ability to innovate and develop new products; our ability
to obtain donor cadavers for our products; our ability to engage and retain qualified technical personnel and members of our management
team; the availability of our facilities; government and third-party coverage and reimbursement for our products; our ability to
obtain regulatory approvals; our ability to successfully integrate recent and future business combinations or acquisitions; our
ability to use our net operating loss carry-forwards to offset future taxable income; our ability to deduct all or a portion of
the interest payments on the notes for U.S. federal income tax purposes; our ability to service our debt; product liability claims
and other litigation to which we may be subjected; product recalls and defects; timing and results of clinical studies; our ability
to obtain and protect our intellectual property and proprietary rights; infringement and ownership of intellectual property; our
ability to remain accredited with the American Association of Tissue Banks; influence by our management; our ability to pay dividends;
our ability to issue preferred stock; and other factors.
Additional risk factors are listed in the Company's Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q under the heading "Risk Factors." You should carefully consider the trends,
risks and uncertainties described in this document, the Form 10-K and other reports filed with or furnished to the SEC before making
any investment decision with respect to our securities. If any of these trends, risks or uncertainties actually occurs or continues,
our business, financial condition or operating results could be materially adversely affected, the trading prices of our securities
could decline, and you could lose all or part of your investment. 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 us or persons acting on our
behalf are expressly qualified in their entirety by this cautionary statement.
Investor Contact CGCAPITAL
Company Contact Xtant Medical
Molly Mason mmason@xtantmedical.com