DealsOct 22, 2026, 05:06 PM
Tenon Medical Investor Waives ATM Restrictions; Issues Warrant
AI Summary
Tenon Medical, Inc. announced that its investor, Armistice Capital Master Fund Ltd., has waived certain restrictions in their securities purchase agreement. This waiver permits the company to increase the amount of shares it can offer and sell through its at-the-market (ATM) offering and to amend the related sales agreement. As consideration, Tenon Medical issued a Series B warrant to the investor to purchase 125,000 shares at $5.02 per share. The placement agent, WallachBeth Capital LLC, also provided a similar waiver. The company is obligated to file a resale registration statement for the warrant shares within 60 days.
Key Highlights
- Tenon Medical's investor, Armistice Capital Master Fund Ltd., waived restrictions on at-the-market (ATM) offering.
- Company issued a Series B warrant to the investor to purchase 125,000 shares at $5.02 per share as consideration.
- The restriction period on ATM sales under the Purchase Agreement was extended by 15 days to 75 days post-Effective Date.
- WallachBeth Capital LLC, the placement agent, also waived its rights to prohibit the ATM share increase.
- Tenon Medical agreed to file a resale registration statement for the warrant shares within 60 days.
Price Impact
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