Tenon Medical enters $10M equity financing agreement with Lincoln Park Capital

Tenon Medical, Inc.

Enters $10M common stock purchase agreement with Lincoln Park Capital Fund, LLC.
Issued 989,087 commitment shares as consideration for Lincoln Park's commitment.
May direct regular purchases of up to 100,000 shares/day, subject to price thresholds.
Term of 24 months from effective date of resale registration statement.
Proceeds to be used for general corporate purposes, including working capital.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Tenon Medical, Inc. entered into Purchase Agreement with Lincoln Park Capital Fund, LLC valued at up to $10 million of shares of common stock (effective 2023-07-24).

Action: entry
Agreement: equity purchase
Counterparty: Lincoln Park Capital Fund, LLC
Value: up to $10 million of shares of common stock
Effective: 2023-07-24

Exact text from the filing

On July 24, 2023, Tenon Medical, Inc. (the "Company") entered into a purchase agreement ("Purchase Agreement") with Lincoln Park Capital Fund, LLC ("Lincoln Park"), under which, subject to specified terms and conditions, the Company may sell to Lincoln Park up to $10 million of shares of common stock from time to time during the term of the Purchase Agreement.

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Tenon Medical, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-060873

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