Tenon Medical Inc (NASDAQ:TNON) shares are trading higher by 180% to $12.30 during Friday's session. The company announced the pricing of a $4.5 million public offering of 1.22 million shares and warrants.
What Happened: Tenon Medical announced the pricing of its public offering with a healthcare-focused institutional investor for the sale of up to 1,222,850 shares of common stock (or pre-funded warrants) and warrants to purchase an equal number of shares.
The offering price is $3.68 per share, with expected gross proceeds of around $4.5 million, excluding fees and expenses. The warrants are exercisable at $3.55 per share, valid for five years.
The offering is expected to close around September 16, 2024, and proceeds will be used for commercial activities, working capital, and general purposes. A.G.P./Alliance Global Partners is the sole placement agent.
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How To Buy TNON Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Tenon Medical's case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, TNON has a 52-week high of $37.60 and a 52-week low of $2.80.