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Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
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SCHEDULE 13D/A 0001104659-25-036047 0001472322 XXXXXXXX LIVE 1 Common Stock, par value $0.000001 per share 08/01/2025 false 0001453593 98420P308 Xtant Medical Holdings, Inc. 664 Cruiser Lane Belgrade MT 59714 Taki Vasilakis 203-308-4440 130 Main St., 2nd Floor New Canaan CT 06840 0001502725 N Nantahala Capital Partners Limited Partnership WC N MA 0.00 16380396.00 0.00 16380396.00 16380396.00 N 11.8 PN 0001472322 N Nantahala Capital Management, LLC AF N MA 0.00 68394000.00 0.00 68394000.00 68394000.00 N 49.1 IA OO 0001775952 N Harkey Wilmot B. AF N X1 0.00 68394000.00 0.00 68394000.00 68394000.00 N 49.1 IN 0001775831 N Mack Daniel AF N X1 0.00 68394000.00 0.00 68394000.00 68394000.00 N 49.1 IN Common Stock, par value $0.000001 per share Xtant Medical Holdings, Inc. 664 Cruiser Lane Belgrade MT 59714 This Amendment No. 1 ("Amendment No. 1") amends and supplements the Schedule 13D filed with the Securities and Exchange Commission on behalf of Nantahala Capital Partners Limited Partnership, a Massachusetts limited liability partnership ("NCP"), Nantahala Capital Management, LLC, a Massachusetts limited liability company ("Nantahala"), and Messrs. Wilmot B. Harkey and Daniel Mack, the principals of Nantahala (collectively, the "Reporting Persons") on April 17, 2025 (the "Original Schedule 13D"), relating to Common Stock, par value $0.000001 per share (the "Common Stock"), of Xtant Medical Holdings, Inc. a Delaware corporation (the "Issuer"). Capitalized terms used but not defined in this Amendment have the meanings set forth in the Original Schedule 13D. Except as specifically provided herein, this Amendment does not modify any of the information reported in the Original Schedule 13D. This Schedule 13D relates to Common Stock of the Issuer purchased by Nantahala through the accounts of certain private funds, including NCP, and managed accounts (collectively, the "Nantahala Investors"). Nantahala serves as the investment adviser to the Nantahala Investors and may direct the vote and dispose of the shares of Common Stock held by the Nantahala Investors. As the principals of Nantahala, Mr. Harkey and Mr. Mack may direct the vote and disposition of the shares of Common Stock held by the Nantahala Investors. Item 4 is amended by the addition of the following: On August 1, 2025, the Board of Directors (the "Board") of the Issuer elected Abhinav (Abi) Jain, an Analyst at NCM, to the Board. Mr. Jain was appointed to serve as a member of the Compensation Committee and Nominating and Corporate Governance Committee of the Board. Mr. Jain's appointment was described further by the Issuer in a Form 8-K filed with the SEC on August 4, 2025. Item 5(a) is amended and restated as follows: See Items 11 and 13 of the cover pages. The percentage of the outstanding shares of Common Stock beneficially owned by the Reporting Persons reported herein is based on 139,323,172 shares of Common Stock outstanding, as reported by the Issuer in a Final Prospectus filed with the SEC on May 20, 2025 pursuant to Rule 424(b)(3). Item 5(b) is amended and restated as follows: See Items 7, 8, 9 and 10 of the cover pages. Item 5(c) is amended by the addition of the following: Other than the transactions reported herein, if applicable, no Reporting Person or Other Officer has effected any transactions in the Common Stock of the Issuer in the prior sixty days. Item 5(d) is amended and restated as follows: The Nantahala Investors hold the shares of Common Stock reported herein, including more than 5% of the outstanding shares of Common Stock beneficially owned by the Reporting Persons but held by Blackwell Partners LLC - Series A and Pinehurst Partners, L.P. No person other than the Nantahala Investors is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Common Stock. Not applicable. Item 6 is amended by the addition of the following: The disclosure set forth in Item 4 to this Amendment No. 1 is incorporated herein by reference. Nantahala Capital Partners Limited Partnership /s/ Taki Vasilakis Taki Vasilakis, Chief Compliance Officer 08/05/2025 Nantahala Capital Management, LLC /s/ Taki Vasilakis Taki Vasilakis, Chief Compliance Officer 08/05/2025 Harkey Wilmot B. /s/ Wilmot B. Harkey Wilmot B. Harkey 08/05/2025 Mack Daniel /s/ Daniel Mack Daniel Mack 08/05/2025