newsfilter
← Latest News
ACCESS Newswire·

Tenon Medical Announces Closing of Warrant Inducement Offering for Aggregate Gross Proceeds of Approximately $2,872,338

TNON
  • Tenon Medical, Inc. closed a warrant inducement agreement with an institutional investor to exercise 572,179 existing warrants.
  • The transaction generated gross cash proceeds of $2,872,338.58 for the company.
  • In exchange for the full exercise of existing warrants, the holder received 858,269 new unregistered warrants representing 150% of the underlying shares.
  • The new warrants carry an exercise price of $5.02 per share, are immediately exercisable, and expire five years from issuance.
  • WallachBeth Capital served as the financial advisor for this private placement transaction.
  • The new warrants were issued pursuant to an exemption from Securities Act of 1933 registration, with the company agreeing to file a resale registration statement with the SEC.
  • Tenon Medical is a Delaware-based medical device firm focused on treating sacro-pelvic disorders through its Catamaran™ SI Joint Fusion System.