Tenon Medical raises $2.6M gross in Series A Preferred, retires $1.25M debt

Tenon Medical, Inc.

Gross proceeds of ~$2.6M from sale of 172,239 Series A Preferred shares at $15.125/unit and 258,374 warrants.
Exchanged $1.25M secured notes plus accrued interest for 84,729 Preferred shares and 157,094 warrants, fully repaying the notes.
Preferred Stock convertible at $1.5125/share; warrants exercisable at $1.2705/share with 5-year term.
Proceeds allocated to growth investments, working capital, and general corporate purposes.
No dividends on Series A; voting capped at 9.99%; anti-dilution provision requires stockholder approval.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Tenon Medical, Inc. entered into Securities Purchase Agreement with certain investors valued at $2,605,000 (effective 2024-02-20).

Action: entry
Agreement: equity purchase
Counterparty: certain investors
Value: $2,605,000
Effective: 2024-02-20

Exact text from the filing

On February 20, 2024 (the “Closing Date”), Tenon Medical, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain investors (the “Investors”), pursuant to which the Company agreed to sell, issue and deliver to the Investors, in a private placement offering (the “Offering”), a total of 172,239 shares of the Company’s Series A Preferred Stock (the “Series A Preferred Stock”) and warrants (the “Warrants”) to purchase 258,374 shares of common stock, par value $0.001 per share, of the Company (“Common Stock”) at an exercise price equal to $1.2705 per share for an aggregate offering price of $2,605,000.

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Tenon Medical, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-016218

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