Tenon Medical, Inc. (NASDAQ: TNON), a company focused on transforming care for patients with sacro-pelvic disorders, has successfully closed a private placement of senior convertible promissory notes, raising approximately $4.3 million in gross proceeds. The notes, which carry a 20% original issue discount, have a maturity date set for September 11, 2026, with an option for the company to extend this date to December 11, 2026. The notes are convertible into shares of the company's common stock at a conversion price equal to 80% of the volume-weighted average price (VWAP) for the three trading days immediately prior to conversion. This financing is expected to support Tenon Medical's commercial expansion, product development, and clinical studies, as well as provide working capital for general corporate purposes. WallachBeth Capital LLC acted as the placement agent for this offering, receiving a cash fee of 7% of the gross proceeds raised, along with reimbursement for expenses incurred during the process. The issuance of these notes was conducted under the exemption from registration requirements under the Securities Act, indicating a strategic move to bolster the company's financial position without immediate dilution to existing shareholders. The company aims to utilize the funds to enhance its operational capabilities and further its mission in the medical device sector.

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