Tenon Medical closes $3M private placement with institutional investor

Tenon Medical, Inc. (Nasdaq: TNON) entered into a securities purchase agreement with an institutional investor on August 27, 2026, to raise approximately $3.0 million in a private placement offering, before placement agent fees and other expenses.

The medical device company agreed to sell 597,610 shares of common stock, or pre-funded warrants in lieu thereof, along with warrants to purchase up to 1,058,517 shares of common stock. The combined effective offering price per share of common stock and accompanying warrants is $5.02, while the combined effective offering price per pre-funded warrant and accompanying warrants is $5.019.

The pre-funded warrants carry an exercise price of $0.001 per share, and the accompanying warrants have an exercise price of $5.02 per share. Both are immediately exercisable and expire five years from the date of issuance.

The offering is structured as a private placement under Section 4(a)(2) of the Securities Act of 1933 and/or Regulation D. The securities have not been registered under the Securities Act. Tenon Medical has agreed to provide customary registration rights for the shares underlying the offering.

WallachBeth Capital LLC is acting as the sole placement agent. The offering is expected to close on or about August 31, 2026, subject to customary closing conditions.

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