Xtant Medical Holdings, Inc. announced that in connection with the Private Placement, the Board of Directors of the Company increased the size of the Board from six directors to seven directors and elected Stavros Vizirgianakis to the Board to fill the vacancy created by such increase, in each case effective upon completion of the First Closing. Additionally, the Board elected Vizirgianakis as Chairman of the Board, effective upon completion of the First Closing, to replace Jeffrey Peters, who is currently serving as Chairman of the Board and intends not to stand for re-election at the Company's next annual meeting of stockholders, which is anticipated to be held during the fourth quarter of 2022.