Under the terms of the agreement, the investor received new warrants to purchase up to 858,269 additional shares of common stock, representing 150% of the volume of the exercised existing warrants. These new instruments carry an exercise price of $5.02 per share and remain exercisable for a five-year period starting from the date of issuance.

While these new securities were issued via a private placement exempt from standard registration requirements under the Securities Act of 1933, Tenon Medical has committed to filing a registration statement with the SEC. This filing will cover the resale of shares issuable upon the exercise of the new warrants. WallachBeth Capital served as the exclusive financial advisor for the transaction, which is intended to bolster the medical device company's capital position as it continues its focus on sacro-pelvic disorder treatment solutions.