Tenon Medical prices $4.5M at-the-market offering

Tenon Medical announced the pricing of its “reasonable best efforts” public offering with a single health-care focused institutional investor for the purchase and sale of up to 1,222,850 shares of common stock and warrants to purchase up to 1,222,850 shares of common stock at a combined offering price of $3.68 per share and accompanying warrant, priced at-the-market under Nasdaq rules. The Company expects to receive aggregate gross proceeds of approximately $4.5 million, before deducting placement agent fees and other offering expenses, and assuming no exercise of the warrants. The warrants will have an exercise price of $3.55 per share, will be exercisable immediately and will expire five years from the issuance date. G.P./Alliance Global Partners is acting as the sole placement agent for the Offering.