Tenon Medical prices $3M private placement with institutional investor

Tenon Medical, Inc. (NASDAQ: TNON) announced it has entered into a securities purchase agreement with an institutional investor for a private placement offering expected to raise approximately $3.0 million in gross proceeds before placement agent fees and other expenses.

The 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. The combined effective offering price for each pre-funded warrant and accompanying warrants is $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.

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

The securities are being offered 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 underlying the offering.

Tenon Medical is a medical device company that makes systems for treating sacroiliac joint disorders, including the Catamaran SI Joint Fusion System and the SImmetry+ SI Joint Fusion System.

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