On September 11, 2026, Tenon Medical, Inc. (NASDAQ: TNON) entered into an inducement offer letter agreement with an institutional holder to exercise outstanding warrants. The holder agreed to exercise 572,179 shares of common stock at an exercise price of $5.02 per share, generating gross proceeds of approximately $2,872,339. In exchange for the immediate exercise, the Company agreed to issue new unregistered Series B Common Stock Purchase Warrants to the holder.
The new warrants, valued at 150% of the shares issued upon the exercise of the existing warrants, allow the holder to purchase up to 858,269 shares of common stock at an exercise price of $5.02 per share. These new warrants are immediately exercisable and will expire five years from the date of issuance. The closing of the transaction occurred on or about September 14, 2026.
WallachBeth Capital LLC has been retained as financial advisor for the transaction. The Company will pay WallachBeth a cash fee equal to 7% of the aggregate gross proceeds, along with reimbursement for documented legal expenses up to $65,000.
The Company intends to use the net proceeds from the warrant inducement for working capital and general corporate purposes. Additionally, Tenon agreed to file a registration statement with the SEC covering the resale of the shares of common stock underlying the New Warrants within 30 calendar days of the agreement, with a goal of making the statement effective within 60 days.
