Tenon Medical, Inc. (NASDAQ: TNON) has entered into warrant exercise agreements with an institutional investor to exercise outstanding warrants for 572,179 shares of common stock, generating gross proceeds of approximately $2,872,338, according to a press release from WallachBeth Capital LLC.

In exchange for the immediate exercise of the existing warrants, the investor will receive new unregistered warrants in a private placement to purchase up to 858,269 shares of common stock, equal to 150% of the shares issued through the warrant exercise. The new warrants carry an exercise price of $5.02 per share, are immediately exercisable upon issuance, and expire five years from the date of issuance.

The closing of the transaction is expected to occur on or about Sept. 14, 2026, subject to customary closing conditions. The gross proceeds figure excludes any potential proceeds from the exercise of the new warrants and is before deducting financial advisor fees and other expenses.

WallachBeth Capital is acting as financial advisor for the transaction. Tenon Medical has agreed to file a registration statement with the Securities and Exchange Commission covering the resale of shares issuable upon exercise of the new warrants.