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Tenon Medical Prices $4.2 Million Equity Offering

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Tenon Medical (TNON) priced a public equity offering expected to raise about $4.2 million in gross proceeds before fees and expenses.

The offering includes up to 11.05 million shares of common stock, or pre-funded warrants in their place, along with warrants to purchase up to 13.26 million additional shares, the company said Tuesday in a statement.

Investors will pay a combined public offering price of $0.38 a share, including the exercise price of any pre-funded warrant issued instead of common stock, the company said.

Tenon said it will use the proceeds for debt repayment and general corporate purposes.

Price: $0.34, Change: $-0.11, Percent Change: -24.48%

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