12:03 PM EDT, 09/04/2024 (MT Newswires) -- Tenon Medical ( TNON ) said Wednesday it will implement a 1-for-8 reverse split of its common shares mainly to increase its per-share market price to meet the Nasdaq Capital Market's $1 minimum closing price requirement for continued listing.

The company's shares are expected to start trading on a split-adjusted basis Friday.

Tenon Medical ( TNON ) shares fell 4.8% in recent trading.

Price: 0.46, Change: -0.02, Percent Change: -4.83