Tenon Medical, Inc. (TNON) Form S-3 — Oct 2, 2026
Tenon Medical filed an S-3 registering the resale of 858,269 shares issuable upon exercise of September 2026 Series B Warrants held by Armistice Capital Master Fund, issued in a warrant inducement transaction that closed September 14, 2026. The company receives no proceeds from these resales but may receive up to $4,308,510 if the warrants ($5.02 exercise price) are exercised for cash. The 858,269 resale shares represent roughly a quarter of the pro-forma 3.55 million shares outstanding, creating substantial dilution and selling-pressure overhang for the micro-cap stock, which closed at $4.04 on October 1, 2026. The inducement deal included a 1-for-35 reverse split effective August 10, 2026.
Key figures
- Offering Price
- 2.77
- Shares Offered
- 858269
- Shares Outstanding
- 2688735
- Reverse split ratio
- 1-for-35
- Warrant exercise price
- 5.02
- Registration fees total
- 89043
- Wallachbeth fee percent
- 7
- Closing price oct 1 2026
- 4.04
- Max warrant exercise proceeds
- 4308510
- Post offering shares outstanding
- 3547004
- Aggregate inducement exercise price
- 2872339
- Wallachbeth expense reimbursement cap
- 65000
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