Tenon Medical, Inc.

Tenon Medical, Inc. (TNON) priced its initial public offering on Apr 27, 2022 at $5.00 per share, within its $4.50–$5.50 range, raising $16M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $56.2M. Benchmark was lead-left underwriter, joined by Valuable Capital. Carmel, Milazzo & Feil advised the company and ArentFox Schiff advised the underwriters.

Tenon Medical, Inc. is a medical device company formed in 2012 that has developed an FDA-cleared surgical implant system for sacroiliac joint fixation and fusion surgery. It is preparing a national launch of the system.

Status

IPO

Ticker

TNON

Exchange

Nasdaq Capital Market

Priced

Apr 27, 2022

IPO price

$5.00

Price range

$4.50–$5.50

Raised

$16M

Market cap at IPO price

$56.2M

First filed

Nov 10, 2021

Underwriters

Benchmark and Valuable Capital

Company counsel

Carmel, Milazzo & Feil

Underwriters' counsel

ArentFox Schiff

Sector

Healthcare

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.