Business
WallachBeth Capital Announces Closing of Tenon Medical, Inc Private Placement of Senior Original Issue Discount Convertible Notes Offering for Gross Proceeds of $4.3 Million
WallachBeth Capital LLC, a leading provider of capital markets and institutional execution services, announces the closing of Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), private placement of senior convertible promissory notes with several institutional and high net worth investors for aggregate gross proceeds of $4.3 million before deducting fees of the placement agent.
About this update from Tenon Medical, Inc.
[{"type":"text","content":"JERSEY CITY, N.J., March 12, 2026 /PRNewswire/ -- WallachBeth Capital LLC, a leading provider of capital markets and institutional execution services, announces the closing of Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), private placement of senior convertible promissory notes with several institutional and high net worth investors for aggregate gross proceeds of $4.3 million before deducting fees of the placement agent.","length":461,"tagName":"p"},{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":188,"url":"https://media.zenfs.com/en/prnewswire.com/08d6b078574aa4a530f8d5620e223fd7"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/w2GAoqlTT5ZpcY4heZOdGg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTMzMTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/08d6b078574aa4a530f8d5620e223fd7","width":400,"height":188}},"href":"https://mma.prnewswire.com/media/465649/WallachBeth_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The 20% original issue discount notes have an aggregate principal amount of $4.3 million with a maturity date of September 11, 2026 and are convertible, following the six month anniversary of the issuance date, into shares of the Company's common stock at a conversion price equal to 80% of the VWAP for the three (3) Trading Days immediately prior to the date of conversion, subject to adjustment as provided therein.","length":422,"tagName":"p"},{"type":"text","content":"The Company expects to use the net proceeds from the offering for commercial expansion, product development, clinical studies, working capital and general corporate purposes.","length":174,"tagName":"p"},{"type":"text","content":"WallachBeth Capital, Inc. acted as the placement agent in connection with the offering. Sichenzia Ross Ference Carmel LLP acted as legal counsel to the Company and Sheppard, Mullin, Richter and Hampton LLP acted as counsel to the placement agent.","length":246,"tagName":"p"},{"type":"text","content":"The notes and the shares issuable upon the conversion of the notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws and, until so registered, may not be offered or sold in the United States or any state absent r...