01:10 PM EDT, 03/25/2025 (MT Newswires) -- Tenon Medical ( TNON ) said Tuesday it agreed to sell $1.5 million worth of shares to a healthcare focused institutional investor, with A.G.P./Alliance Global Partners as the placement agent.

The company said it will issue 733,500 shares at $2.00 apiece in a registered direct offering to the investor. The shares will come with an equal number of warrants that can be exercised at $2.00 each.

Tenon said it expects to close the offering Wednesday, with funds raised to be used for working capital and general corporate purposes.

Tenon shares were up over 280% in recent trading.

Price: 3.78, Change: +2.80, Percent Change: +286.46