Tenon Medical Secures Funding with Preferred Stock Sale

Tenon Medical, Inc. ( (TNON) ) has issued an update.

Tenon Medical, Inc. has successfully closed a deal with investors to sell 86,454 shares of Series B Preferred Stock and warrants to purchase additional common stock, raising $550,000 in a private offering. The preferred stock is convertible into common shares at the investors’ discretion, with each share having a base value that increases over time. The conversion price is set at $5.09 per share, subject to adjustments. In the event of a company liquidation or significant ownership change, Series B stockholders have preferential rights. The agreement also includes anti-dilution protections and stipulates that a registration statement for the common stock underlying the preferred shares and warrants must be filed within 120 days.

For detailed information about TNON stock, go to TipRanks’ Stock Analysis page.