GAINSVILLE, FL–Exactech Inc. (Nasdaq:EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, has entered into definitive agreements with certain institutional investors to sell 877,391 shares of its common stock at a price of $23.00 per share.

The sale results in gross proceeds of approximately $20.2 million and net proceeds of approximately $18.8 million after offering expenses and placement agency fees.

The company expects to use the net proceeds from the sale of these securities for the payment of debt, and the remainder, if any, for general corporate purposes, including working capital, product development and capital expenditures.

On the Web: www.exac.com

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