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Stock Market & Financial Investment News

News Breaks
March 10, 2014
07:30 EDTBONEBacterin secures additional OrbiMed financing
Bacterin International Holdings announced the closing of an additional $4M financing from OrbiMed. The additional $4M was provided on the same terms as the $20M term loan the company received in August of 2012. In conjunction with the financing, Bacterin agreed to issue 1.5 million shares of common stock to an affiliate of OrbiMed. The proceeds will be used by the company for working capital and general corporate purposes.
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July 27, 2015
19:03 EDTBONEBacterin to acquire X-spine Systems, change name of new company to Xtant Medical
Bacterin announced that it intends to purchase the outstanding shares of privately held X-spine Systems in exchange for approximately 4.24M shares of Bacterin common stock and approximately $60M in cash, subject to customary working capital adjustments, and including the extinguishment of approximately $13M of X-spine debt. The transaction will position the combined company as a comprehensive supplier for spine surgery procedures that offers both hardware and biologics through a more substantial national distribution footprint. Concurrent with the closing, Bacterin International Holdings, Inc. will change its name to Xtant Medical Holdings, Inc. Dr. David Kirschman, currently X-spine CEO, will join the management team and serve as EVP and Chief Scientific Officer of Xtant Medical Holdings, Inc. He will also be president of X-spine Systems, the hardware subsidiary. Dr. Kirschman will also be appointed to the Xtant Medical Holdings, Inc. board.

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