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Xtant Medical Files Shelf Registration for Potential Offering of Securities; Shares Tumble 12%

05/11/2021 06:04

09:48 AM EDT, 05/11/2021 (MT Newswires) -- Xtant Medical Holdings (XTNT) said Tuesday it has filed a shelf registration statement for a potential offering of up to $150 million of securities.

A security sale would offer Xtant the flexibility to fund future growth initiatives and business opportunities, according to a statement.

"At the present time, the company has no specific plans to issue securities under the registration statement," Xtant said.

The shelf registration statement also covers a potential sale by certain stockholders affiliated with OrbiMed Advisors of up to 18.2 million shares of the company's common stock.

Xtant shares were 12% lower in early Tuesday trading.

Price: 1.45, Change: -0.22, Percent Change: -13.17