- Tenon Medical (NASDAQ:TNON) has entered into settlement with institutional investor for the acquisition and sale of as much as 1,222,850 shares of frequent inventory (or pre-funded warrants in lieu thereof) and warrants to buy as much as 1,222,850 shares of frequent inventory at $3.68 per share and accompanying warrant, priced at-the-market below Nasdaq guidelines.
- The warrants could have an train worth of $3.55 per share, might be exercisable instantly and can expire 5 years from the issuance date.
- The Company expects to obtain combination gross proceeds of roughly $4.5 million.
- Closing date is on or about September 16, 2024.
- The internet proceeds might be used for business exercise, working capital and normal company functions.
- The inventory closed 43% larger yesterday in wake of Nasdaq itemizing replace.
- TNON -14.3% after hours to $3.77
- Source: Press Release
Source: Seekingalpha