11:52 AM EDT, 09/11/2024 (MT Newswires) -- Tenon Medical ( TNON ) said in a Wednesday filing that it plans to proceed with a public share offering to regain compliance with Nasdaq's minimum float requirement.

The company recently completed a 1-for-8 reverse stock split that reduced its outstanding shares to 510,221 from nearly 4.1 million previously. Of the remaining outstanding shares, 490,364 qualify as publicly held shares, falling short of Nasdaq's 500,000 minimum float requirement, Tenon Medical ( TNON ) said.

Tenon Medical ( TNON ) said it filed a registration statement in August for a public share offering.

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