The offering includes 597,610 shares of common stock, or pre-funded warrants in lieu thereof, paired with warrants to purchase an additional 1,058,517 shares. The combined effective price for each share and its accompanying warrant stands at $5.02, while pre-funded warrants are priced at $5.019. These warrants carry an exercise price of $5.02 and are set to expire five years from the date of issuance.

Tenon Medical, which trades on the NASDAQ under the ticker TNON, intends to use the capital to advance its medical device operations. The securities were issued under Section 4(a)(2) of the Securities Act of 1933 and Regulation D, meaning they have not been registered for public sale. Under the terms of the agreement, the company has committed to providing customary registration rights for the shares and those underlying the warrants.