Tenon Medical closes $3 million private placement at $5.02 per share unit price

Tenon Medical closed a private placement with an institutional investor, raising about USD 3 million in gross proceeds.

• The deal was priced at USD 5.02 per share with accompanying warrants; 597,610 common shares or pre-funded warrants were sold.
• The investor also received warrants to buy up to 1,058,517 shares at USD 5.02, exercisable immediately and expiring in five years.
• The securities were sold in an unregistered offering under Section 4(a)(2) or Regulation D; registration rights were granted for resale.
• WallachBeth Capital served as exclusive placement agent.