Tenon Medical, Inc. announced on March 11, 2025, its entry into a warrant inducement agreement with an existing healthcare-focused institutional investor. This transaction involved the immediate exercise of Series A Warrants and Series B Warrants.
The warrants, which allowed the purchase of up to 1,222,850 shares of common stock each, were exercised at a reduced price of $1.25 per share. This transaction generated gross cash proceeds of approximately $3.0 million for the company.
Tenon Medical intends to utilize the net proceeds from this offering for working capital and other general corporate purposes. This capital infusion strengthens the company's balance sheet and provides financial flexibility for ongoing operations and strategic initiatives.
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