Xtant also said it agreed to sell all "OUS entities" of Germany-based Paradigm Spine to Companion Spine.

The proceeds total $19.2 million, consisting of $11 million in cash at closing and $8.2 million in short-term seller financing, Xtant said.

The company said it expects to use the proceeds to lower long-term debt and provide more cash liquidity.

The transaction, expected to close in Q3, includes moving certain members of the Xtant US and international commercial organizations, the company said.

Xtant shares were up over 5% in recent premarket activity.

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