Tenon Medical, Inc. (TNON), a medical devices firm, on Friday announced the pricing of its public offering of up to 1.222 million shares and warrants at a combined price of $3.68 per share.
The warrants will have an exercise price of $3.55 per share, will be exercisable immediately, and will expire five years from the issuance.
The gross proceeds from the offering are projected at around $4.5 million. The offering will be closed on or about September 16.
Tenon intends to use the net proceeds from this offering for commercial activity, working capital, and general corporate purposes. TNON was trading up by 177.5 percent at $12.250 in pre-market trade on the Nasdaq.
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