Xtant Medical Holdings, Inc. (NYSEAM:XTNT) entered into asset purchase agreement to acquire Certain assets from Surgalign Holdings, Inc. (NasdaqGS:SRGA) for $5.6 million on June 18, 2023. Under the terms of the transaction, Xtant Medical will pay $5 million in cash. If the transaction does not consummate then Surgalign will be obliged to pay termination fee of $150,000 plus up to an additional $150,000 in Expense Reimbursements. Surgalign selected Xtant Medical Holdings, Inc. as the successful bidder for its hardware and biologics assets. As on June 19, 2023, Bankruptcy court approved the transaction. Gregory F. Pesce and Adam Cieply of White & Case LLP acted as legal advisor to Surgalign Holdings, Inc. Fox Rothschild LLP acted as legal advisor to Xtant Medical Holdings, Inc. Alvarez & Marsal Securities, LLC and Alvarez & Marsal North America, LLC acted as financial advisor to Surgalign Holdings, Inc. on August 8, 2023, presiding Judge Christopher M. Lopez stated on the record that the Transaction is approved, and the parties anticipate that Judge Lopez will enter a formal written order shortly. Pursuant to the terms of the Asset Purchase Agreement, closing of the Transaction is expected to occur no later than September 1, 2023.

Xtant Medical Holdings, Inc. (NYSEAM:XTNT) completed the acquisition of Certain assets from Surgalign Holdings, Inc. (NasdaqGS:SRGA) on August 10, 2023. The acquisition includes certain assets and liabilities related to the domestic and international biologics and spinal fixation offerings of Surgalign Holdings, Inc. under a Bankruptcy Court supervised process for $5 million, plus assumed liabilities, in an all-cash transaction. The Bankruptcy Court issued a Sale Order on August 9, 2023 approving and authorizing the Transaction. Xtant Medical Holdings funded the purchase price of $5 million, plus Liabilities, with cash on hand. XTNT also acquired $1.142 million of cash.