Tenon Medical, Inc. announced on October 28, 2024, that it has regained full compliance with all relevant Nasdaq continued listing Rules. This achievement resolves previous non-compliance issues that had been reported by the company.
The company had previously faced non-compliance with Nasdaq Rules concerning the number of independent directors on its board and certain board committees (5605(b)(1), 5605(c)(2), 5605(d)(2)). Additionally, it addressed issues related to its minimum bid price (5550(a)(2)), public float (5550(a)(4)), and stockholders' equity (5550(b)).
Regaining compliance is a significant step for Tenon Medical, as it eliminates the risk of delisting from the Nasdaq exchange. This development is expected to improve investor confidence and ensure the company's continued access to public capital markets.
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