Tenon Medical, Inc. Announces Closing of $4.2 Million Public Offering

Rhea-AI Summary

Tenon Medical (NASDAQ:TNON) closed a public offering for approximately $4.2 million in gross proceeds. The deal included 11,052,631 common shares (or pre-funded warrants) plus Common Warrants for up to 13,263,159 shares at a combined price of $0.38 per share.

Proceeds are expected to fund partial repayment of convertible notes, commercial expansion, clinician training, added sales reps and distributors, clinical research, R&D for future launches, higher inventory and instrumentation, marketing, working capital and general corporate purposes. Common and pre-funded warrants are immediately exercisable.

Positive

• Gross proceeds of approximately $4.2 million raised in public offering
• Funding earmarked for partial repayment of outstanding convertible notes
• Capital allocated to expand commercial footprint and clinical training
• Resources directed to R&D, future product launches, and clinical research

Negative

• Issuance of 11,052,631 shares plus up to 13,263,159 warrant shares adds dilution
• Warrant share count may rise to 16,578,949 if reverse split occurs

News Market Reaction – TNON

-0.09% 3.8x vol

31 alerts

-0.09% Session close to close

+53.7% Peak Tracked

-14.1% Trough Tracked

$3.86M Market Cap

3.8x Rel. Volume

In the Jul 1 session, TNON declined 0.09%, reflecting a mild negative market reaction. Argus tracked a peak move of +53.7% during that session. Argus tracked a trough of -14.1% from its starting point during tracking. Our momentum scanner triggered 31 alerts that day, indicating elevated trading interest and price volatility. Trading volume was very high at 3.8x the daily average, suggesting heavy selling pressure.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement finalizes a $4.2 million equity raise with 11,052,631 shares and accompanying warr...

Analysis

This announcement finalizes a $4.2 million equity raise with 11,052,631 shares and accompanying warrants, aimed at note repayment and commercial growth. Past offerings often triggered volatile moves, while low short interest reduces squeeze-driven risk.

Key Figures

Gross proceeds: $4.2 million Shares offered: 11,052,631 shares Common warrants: 13,263,159 warrants +5 more

8 metrics

Gross proceeds $4.2 million Aggregate gross proceeds from July 2026 public offering

Shares offered 11,052,631 shares Common stock (or pre-funded warrants) in July 2026 offering

Common warrants 13,263,159 warrants Common stock purchase warrants in July 2026 offering

Warrants post-split 16,578,949 shares Common warrant underlying shares if reverse split effected

Offering price $0.38 per share Combined public offering price with accompanying Common Warrants

Pre-funded exercise $0.001 per share Exercise price of each pre-funded warrant

Warrant exercise $0.38 per share Exercise price of the Common Warrants

Registration file no. 333-296952, 333-297142 Form S-1 and S-1MEF registration statements for the offering

Previous Offering Reports

4 past events · Latest: Jun 30 (Negative)

Same Type Pattern 4 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 30	Offering pricing	Negative	-26.9%	Registered public offering priced with shares and common warrants for $4.2M.
Jun 30	Offering pricing	Negative	-26.9%	Company-priced $4.2M public offering of common stock and common warrants.
Sep 17	Offering closing	Negative	-18.9%	Closed $4.5M public offering with common stock and five-year warrants.
Sep 12	Offering pricing	Negative	+71.6%	Announced pricing of $4.5M public offering with immediately exercisable warrants.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Offering announcements have usually been met with negative price reactions, with one notable upside exception.

Key Terms

pre-funded warrants, common stock purchase warrants, reverse stock split, registration statement on form s-1, +1 more

5 terms

pre-funded warrants financial

"shares of our common stock, par value $0.001 per share (or pre-funded warrants in lieu thereof)"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

common stock purchase warrants financial

"together with common stock purchase warrants to purchase up to 13,263,159 shares of common stock"

Common stock purchase warrants are tradable instruments that give the holder the right to buy a company’s common shares at a set price before a specified date, like a coupon that lets you purchase stock later at a fixed rate. They matter to investors because they offer a way to gain future upside if the stock rises, but when exercised they increase the number of shares outstanding and can reduce existing shareholders’ ownership and earnings per share.

reverse stock split financial

"will be increased to 16,578,949 if the Company effects a reverse stock split."

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

registration statement on form s-1 regulatory

"pursuant to a registration statement on Form S-1 (File No.: 333-296952), as amended"

A registration statement on Form S-1 is a detailed filing a company submits to the U.S. securities regulator to register new shares for public sale; it includes a plain-language prospectus, financial statements, business description and risk factors. For investors it matters because it provides the official, comprehensive blueprint of the offering — like an owner’s manual — allowing buyers to assess risks, inspect financial health and compare valuation before deciding to invest.

prospectus regulatory

"The offering is being made only by means of a preliminary prospectus and final prospectus"

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LOS GATOS, CA / ACCESS Newswire / July 1, 2026 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a medical device company dedicated to transforming care for patients with certain sacro-pelvic disorders, announced that it has closed its previously announced public offering of securities as described below for aggregate gross proceeds to the Company of $4.2 million, before deducting placement agent fees and other estimated offering expenses payable by the Company.

The offering consisted of 11,052,631 shares of our common stock, par value $0.001 per share (or pre-funded warrants in lieu thereof), together with common stock purchase warrants to purchase up to 13,263,159 shares of common stock (the "Common Warrants"), at a combined public offering price of $0.38 per share of common stock (inclusive of the pre-funded warrant exercise price of $0.001) and accompanying Common Warrants. The number of shares of Common Stock underlying the Common Warrants will be increased to 16,578,949 if the Company effects a reverse stock split.

The Company expects to use the net proceeds from the offering for partial repayment of outstanding convertible notes, expansion of the commercial footprint of its product portfolio including training clinicians on current procedures, hiring additional direct sales reps, expansion of its external distribution network, continuing clinical research studies to support reimbursement and coverage efforts, funding research and development including upcoming future launches, and increases to inventory and instrumentation capacities, as well as other marketing activities, working capital and general corporate purposes.

WallachBeth Capital LLC acted as sole placement agent in connection with the offering. Sichenzia Ross Ference Carmel LLP acted as legal counsel to the Company and Sheppard, Mullin, Richter & Hampton LLP acted as counsel to WallachBeth Capital LLC.

The Common Warrants will be immediately exercisable and will entitle the holder to purchase one share of common stock at an exercise price of $0.38 per share. Each pre-funded warrant will be immediately exercisable, will entitle the holder to purchase one share of common stock at an exercise price of $0.001 per share and may be exercised at any time until exercised in full. The common stock (or pre-funded warrant in lieu thereof) and Common Warrants can only be purchased together in this offering but will be immediately issued separately.

The securities described above are being offered by the Company pursuant to a registration statement on Form S-1 (File No.: 333-296952), as amended, previously filed and declared effective by the Securities and Exchange Commission (the "SEC"), and the registration statement on Form S-1MEF (File No.: 333-297142). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a preliminary prospectus and final prospectus that will form a part of the registration statement. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Electronic copies of the prospectus supplements may be obtained, when available, from WallachBeth Capital, LLC, via email at cap-mkts@wallachbeth.com, by calling +1 (646) 237-8585, or by standard mail at WallachBeth Capital LLC, Attn: Capital Markets, 185 Hudson St., Suite 1410, Jersey City, NJ 07311, USA.

About Tenon Medical, Inc.

Tenon Medical, Inc., a medical device company dedicated to transforming care for patients with certain sacro-pelvic disorders. Tenon was incorporated in the State of Delaware in 2012 and currently offers two systems to treat a diseased sacroiliac joint (the "SI Joint"). The Company has developed The Catamaran^™ SI Joint Fusion System that offers a novel, less invasive approach to the SI Joint using a single, robust titanium implant. In August 2025, the Company acquired substantially all of the assets of SiVantage, Inc. and SIMPL Medical, LLC, including the SImmetry+^® SI Joint Fusion System, which treats disorders of the SI Joint through a minimally invasive lateral access solution that incorporates well-established orthopedic fusion principles. Since the national launch of The Catamaran System in October 2022, Tenon is focused on three commercial opportunities: 1) primary SI Joint procedures, 2) revision procedures of failed SI Joint implants and 3) SI-Joint fusion adjunct to a spine fusion construct.

For more information, please visit www.tenonmed.com. Information on the Company's website does not constitute a part of and is not incorporated by reference into this press release.

The Tenon Medical logo shown above, and Catamaran^®, PiSIF^®, CAT PiSIF^®, ETAD^®, Posterior Inferior Sacroiliac Fusion^®, CAT SIJ Fusion System^®, Catamaran SIJ Fusion System^®, Catamaran Inferior Posterior Fusion System^®, Catamaran Transfixation Fusion System^®, Catamaran Transfixation Fusion Device^®, SImmetry^® are registered trademarks of Tenon Medical, Inc. MAINSAILTM, and SImmetry+^™ are also trademarks of Tenon Medical, Inc.

Forward-Looking Statements

This press release contains "forward-looking statements," which are statements related to events, results, activities or developments that Tenon expects, believes or anticipates will or may occur in the future. Forward-looking often contains words such as "intends," "estimates," "anticipates," "hopes," "projects," "plans," "expects," "seek," "believes," "see," "should," "will," "would," "target," and similar expressions and the negative versions thereof. These forward-looking statements, include, but are not limited to, statements regarding the completion of the Offering, the satisfaction of customary closing conditions related to the Offering and the anticipated use of proceeds therefrom. Such statements are based on Tenon's experience and perception of current conditions, trends, expected future developments and other factors it believes are appropriate under the circumstances, and speak only as of the date made. Forward-looking statements are inherently uncertain and actual results may differ materially from assumptions, estimates or expectations reflected or contained in the forward-looking statements as a result of various factors. For details on the uncertainties that may cause Tenon's actual results to be materially different than those expressed in any forward-looking statements, please review Tenon's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and updated from time to time in our Form 10-Q filings and in our other public filings on file with the SEC at www.sec.gov statements contain, particularly the information contained in the section entitled "Risk Factors." We undertake no obligation to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise unless required by law.

Investor Contact

Shannon Devine
MZ North America
203-741-8811
tenon@mzgroup.us

SOURCE: Tenon Medical, Inc.

View the original press release on ACCESS Newswire

FAQ

What did Tenon Medical (NASDAQ:TNON) announce about its July 1, 2026 public offering?

Tenon Medical announced the closing of a public offering raising about $4.2 million in gross proceeds. According to Tenon, the deal included common stock or pre-funded warrants plus Common Warrants, all priced at a combined $0.38 per share including the pre-funded warrant exercise price.

How many Tenon Medical (TNON) shares and warrants were issued in the $4.2 million offering?

Tenon issued 11,052,631 common shares, or pre-funded warrants in lieu, plus Common Warrants for up to 13,263,159 shares. According to Tenon, the number of shares underlying the Common Warrants could increase to 16,578,949 if a reverse stock split is effected.

What is the exercise price and timing for Tenon Medical (TNON) Common Warrants and pre-funded warrants?

Tenon’s Common Warrants are immediately exercisable at $0.38 per share. According to Tenon, each pre-funded warrant is immediately exercisable at $0.001 per share and may be exercised at any time until fully exercised, offering investors ongoing optionality on additional common shares.

How will Tenon Medical (TNON) use the net proceeds from its July 2026 offering?

Tenon plans to use proceeds for partial repayment of convertible notes and broad business growth initiatives. According to Tenon, funds will support commercial expansion, clinician training, added sales reps, distribution network growth, clinical research, R&D, inventory and instrumentation increases, marketing, working capital and corporate purposes.

What does the $0.38 public offering price mean for Tenon Medical (TNON) investors?

The $0.38 combined price sets the sale and warrant exercise reference for this capital raise. According to Tenon, the price includes the $0.001 pre-funded warrant exercise component and applies to each share of common stock or pre-funded warrant sold with accompanying Common Warrants.

Were Tenon Medical (TNON) securities in this offering registered with the SEC?

Yes. The securities were offered under an effective Form S-1 registration statement and a related S-1MEF filing. According to Tenon, a final prospectus for the offering will be filed with the SEC and made available on the SEC’s website at www.sec.gov.