Tenon Medical, Inc. (TNON): Nasdaq/NYSE listing notice — Tenon Medical receives Nasdaq delisting notice for stockholders' equity deficiency

Tenon Medical, Inc.

Nasdaq notified Tenon Medical on May 17, 2023 of non-compliance with minimum $2.5M stockholders' equity requirement.
As of March 31, 2023, stockholders' equity was $2.474M, below the required threshold.
Company has until July 3, 2023 to submit a plan to regain compliance; if accepted, extension to Nov 13, 2023 possible.
Failure to regain compliance may lead to delisting; no immediate effect on trading or business operations.
Company evaluating options to regain compliance, but no assurance of success.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Tenon Medical, Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

May 17, 2023, Tenon Medical, Inc. (the “Company”) received a written notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) dated May 17, 2023, notifying the Company that it is no longer in compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires listed companies to maintain stockholders’ equity of at least $2,500,000. In the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023, the Company reported stockholders’ equity of $2,474,000, which is below the mi

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Tenon Medical, Inc. filing history →

Source: SEC EDGAR

accession 0001575872-23-000799

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