Tenon Medical closes $3M private placement with institutional investor

Tenon Medical, Inc. (Nasdaq: TNON) has closed a private placement offering with an institutional investor, raising approximately $3.0 million in gross proceeds before placement agent fees and other expenses, according to a press release.

The offering included 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 was $5.02. The combined effective offering price for each pre-funded warrant and accompanying warrants was $5.019.

The pre-funded warrants carry an exercise price of $0.001 per share, while 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.

WallachBeth Capital LLC served as the exclusive placement agent for the transaction.

The securities were sold under Section 4(a)(2) of the Securities Act of 1933 and/or Regulation D and have not been registered under federal or state securities laws. Tenon Medical has agreed to provide customary registration rights for the shares of common stock and shares underlying the warrants and pre-funded warrants.

Tenon Medical is a medical device company that offers two systems for treating sacroiliac joint disorders: the Catamaran SI Joint Fusion System and the SImmetry+ SI Joint Fusion System, the latter acquired in August 2025 through the purchase of assets from SiVantage, Inc. and SIMPL Medical, LLC.

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