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Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain sacro-pelvic disorders, today announced the pricing of an at-the-market private investment in public equity (the "PIPE") financing with several accredited investors for total gross proceeds of $2,850,000.
Under the terms of securities purchase agreements, dated September 10, 2025 between the Company and the applicable investors, the Company will issue, an aggregate of 2,217,904 shares of common stock (the "Issued Shares") and warrants (the "PIPE Warrants") to purchase 2,217,904 shares of common stock at a combined offering price of $1.285 per share of common stock and warrant to purchase one share of common stock. The PIPE Warrants have a strike price of $1.16 per share, with an expiration date of 3 years from the date of issuance. The Issued Shares and the shares underlying PIPE Warrants will be entitled to customary resale registration rights. The closing of the PIPE is subject to customary closing conditions for financing of this nature.
The gross proceeds from PIPE are expected to be $2.85 million. The Company intends to use the PIPE proceeds for working capital and general corporate purposes. Proceeds from the PIPE will support Tenon Medical's upcoming product launches, expansion of commercial operations, advancement of clinical studies, and continued investment in core business operations.
Posted In: TNON
