Business
Tenon Medical Announces Withdrawal of Public Offering of Common Stock
LOS GATOS, CA / ACCESSWIRE / September 12, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients
About this update from Tenon Medical, Inc.
[{"type":"text","content":"LOS GATOS, CA / ACCESSWIRE / September 12, 2023 / Tenon Medical, Inc. (\"Tenon\" or the \"Company\") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced that it has withdrawn its proposed public offering of shares of its common stock.Steven Foster, Chief Executive Officer of Tenon, commented \"In the interest of achieving the best value for our stockholders, we made the decision to withdraw our recently announced public offering of common stock. We have a fiduciary responsibility to all our stakeholders and believe the value of our Company would not have been properly reflected in the proposed offering of our common stock.\"About Tenon Medical, Inc.Tenon Medical, Inc., a medical device company formed in 2012, has developed The Catamaran® SI Joint Fusion System that offers a novel, less invasive approach to the SI joint using a single, robust titanium implant. The system features the Catamaran® Fixation Device which passes through both the axial and sagittal planes of the ilium and sacrum, stabilizing and transfixing the SI Joint along its longitudinal axis. The angle and trajectory of the Catamaran surgical approach is also designed to provide a pathway away from critical neural and vascular structures and into the strongest cortical bone. Since the national launch of the Catamaran SI Joint Fusion System in October 2022 Tenon is focused on three commercial opportunities with its System in the SI Joint market which includes: 1) Primary SI Joint procedures, 2) Revision procedures of failed SI Joint implants and 3) SI Joint fusion adjunct to a spine fusion construct. For more information, please visit https://www.tenonmed.com/.The Tenon Medical logo, Tenon Medical and Catamaran are registered trademarks of Tenon Medical, Inc.Safe HarborThis press release contains \"forward-looking statements,\" which are statements related to events, results, activities or developments that Tenon expects, believes or anticipates will or may occur in the future. Forward-looking often contains words such as \"intends,\" \"estimates,\" \"anticipates,\" \"hopes,\" \"projects,\" \"plans,\" \"expects,\" \"seek,\" \"believes,\" \"see,\" \"should,\" \"will,\" \"would,\" \"target,\" and similar expressions and the negative versions thereof. Such statements are based on Tenon's experience...