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Xtant Medical issues equity in exchange for debt

Xtant Medical Holdings Inc. exchanged about $70.2 million worth of debt for shares in the company.

As part of the previously announced restructuring agreement, the company issued 10,401,309 common shares at $7.20 apiece to ROS Acquisition Offshore LP and OrbiMed Royalty Opportunities II LP who held the company's 6% senior unsecured notes due 2021.

The Belgrade, Mont.-based regenerative medicine developer also closed a private placement of 945,819 common shares, priced at $7.20 each, to ROS and OrbiMed — raising $6.8 million.