Tenon Medical, Inc. announced the pricing of an at-the-market private investment in public equity (PIPE) financing with total gross proceeds of $2,850,000.
The PIPE is strategically placed with industry supportive investor cohort to provide accretive capital through participation from strategic industry partners and members of Tenon's management team.
The Company intends to use the PIPE proceeds for working capital, general corporate purposes, product launches, expansion of commercial operations, advancement of clinical studies, and continued investment in core business operations.
Gross Proceeds
Total gross proceeds of the PIPE financing amount to $2,850,000.
Issued Shares and PIPE Warrants
2,217,904 shares of common stock will be issued along with warrants to purchase the same amount of shares at a combined offering price of $1.285 per share with a strike price of $1.16 per share for the warrants.
Use of Proceeds
The funds raised from the PIPE financing will support Tenon Medical's upcoming initiatives including product launches, commercial expansion, clinical studies, and general corporate purposes.
- The strategic placement of the PIPE financing with industry supportive investors and Tenon's management team highlights the confidence and commitment of key stakeholders in Tenon's long-term vision and growth strategy.
- The funds from the PIPE will drive Tenon Medical's strategic plans for product development, market expansion, and operational advancements, positioning the company for sustainable growth in the healthcare sector.
The pricing of the PIPE financing and the support from accredited investors showcase positive market sentiment towards Tenon Medical, Inc.'s future prospects and growth trajectory in transforming care for patients with sacro-pelvic disorders.