Fort Lauderdale, FL, May 02, 2022 (GLOBE NEWSWIRE) — Exchange Listing, LLC has ﬁnalized the Nasdaq Capital Markets listing for its client, Tenon Medical, Inc. (“Tenon Medical” or the “Company”) (Nasdaq: TNON) on 28 April 2022. The common stock of the medical device company began trading on the Nasdaq exchange under the symbol TNON. Concurrent with the Nasdaq listing, Tenon Medical announced the pricing of its underwriter’s initial public offering of 3,200,000 common stock, at a price of $5.00 per share which reflects a 2 for 1 reverse stock split that was effective on April 6, 2022. The gross proceeds to Tenon Medical from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be $16 million.
The Company, based in Los Gatos, California has developed its proprietary Catamaran™ SIJ Fusion System of instruments and implants to address the pain associated with sacroiliac joint disease.
Exchange Listing has provided incredible value with its extensive network and deep capital market guidance and actionable knowledge. Their team was hyper-focused on the successful outcome of securing necessary growth capital and the Nasdaq listing of Tenon Medical. With the closing of this financing, Tenon Medical can begin to address the greatly underserved market opportunity that exists in this space, affirms Steven M. Foster President and CEO, Tenon Medical.
“This is an incredible milestone for Tenon Medical, as it continues to advance in the space of sacroiliac joint surgical solutions. I am looking forward to seeing Tenon Medical’s continued innovation in this space as they work to deliver a pathway for the improved quality of life for thousands of patients,” explains Peter Goldstein, CEO, Exchange Listing.
Exchange Listing provides growth companies with cost-eﬀective and eﬃcient direct access to one-stop solutions in the strategic planning and implementation of listing and uplisting on senior exchanges such as the Nasdaq or NYSE. Focusing on company-speciﬁc structuring to meet listing requirements, Exchange Listing serves as the primary point of contact with the exchange, investment bankers and lawyers throughout the listing process. With extensive experience in investment banking, securities law, corporate governance and business management, Exchange Listing and its strategic partners facilitate clients’ listing and capital markets objectives.