Tenon Medical, Inc. announced that it has entered into a Securities Purchase Agreement with certain investors pursuant to which the Company agreed to sell, issue and deliver to the Investors, in a private placement offering to issue 172,239 shares of the Company?s Series A Preferred Stock at an issue price of $15.125 per share for the gross proceeds of $2,605,114.875 and warrants to purchase 258,374 shares of common stock, par value $0.001 per share, of the Company at an exercise price equal to $1.2705 per share on February 20, 2024. The Company offered and sold the Series A Preferred Stock and Warrants to the purchasers in reliance on the exemption from registration provided by Section 4(a)(2) and Regulation 506(b) under the Securities Act of 1933, as amended (the ?Securities Act?). The Warrants have an initial exercise price of $1.2705 per share and a five (5) year term.

Each Warrant will contain a ?cashless exercise? feature and the same anti-dilution rights as the Series A Preferred Stock. The company will issue securities pursuant to exemption provided under Regulation D from 46 investors.