--- title: "Tenon Medical obtains investor waiver to increase at-the-market sales" url: "https://aibio.space/news/tenon-medical-obtains-investor-waiver-increase-market-sales/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-10-16" section: "Financings" tickers: "NASDAQ:TNON" source: "https://www.sec.gov/Archives/edgar/data/1560293/000121390026111740/ea0309254-8k_tenon.htm" summary: "The investor waived limits that would have blocked a larger at-the-market offering, in exchange for a new warrant at $5.02 per share. WallachBeth Capital L" --- By the aibio.space news desk. Sources - [Tenon Medical, Inc. 8-K (2026-10-22)](https://www.sec.gov/Archives/edgar/data/1560293/000121390026111740/ea0309254-8k_tenon.htm) - [Tenon Medical, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1560293/000121390026035707/) [TNON](https://aibio.space/companies/tenon-medical/) 2026-10-16 # Tenon Medical obtains investor waiver to increase at-the-market sales Tickers [TNON](https://aibio.space/companies/tenon-medical/) The investor waived limits that would have blocked a larger at-the-market offering, in exchange for a new warrant at $5.02 per share. WallachBeth Capital LLC also waived its rights under the sales agreement. ## Key facts - **Company**: Tenon Medical, Inc. (NASDAQ: TNON) - **News type**: Financings - **Primary source**: [Tenon Medical, Inc. 8-K (2026-10-22)](https://www.sec.gov/Archives/edgar/data/1560293/000121390026111740/ea0309254-8k_tenon.htm) *Planning on a whiteboard. Photo: Startup Stock Photos, CC0, via StockSnap. The picture shows the field, not the companies named.* Tenon Medical, Inc. and an institutional investor entered into a waiver dated October 16, 2026, that lets the company increase the number of shares it may sell under its at-the-market offering. Under the waiver, the investor gave up the restrictions in Section 4.12 of their securities purchase agreement, dated August 27, 2026, to the extent needed to file prospectus supplements that increase the shares offered and to amend the sales agreement. The investor also gave up any right to injunctive relief or damages under Section 4.12 for those changes. The company reported the waiver in a [Form 8-K](https://www.sec.gov/Archives/edgar/data/1560293/000121390026111740/ea0309254-8k_tenon.htm) dated October 22, 2026. ## The sales agreement and the placement agent The at-the-market offering runs under a Sales Agreement dated as of August 11, 2026, between Tenon and A.G.P./Alliance Global Partners. On the same day, October 16, 2026, WallachBeth Capital LLC, which the filing calls the Placement Agent, waived its rights to prohibit the increase in shares that can be sold under that agreement, and the company entered into a waiver with it. The filing says all other terms of the purchase agreement remain in force. That includes the Section 4.12 restriction on sales under the at-the-market offering, apart from the change the waiver allows. ## The new warrant As consideration for the waiver, the company issued the investor a Series B common stock purchase warrant for up to 125,000 shares of common stock. The warrant has an exercise price of $5.02 per share and an expiration date of September 14, 2031. It is subject to beneficial ownership limits set out in the warrant. The waiver also extends by 15 days the period during which the Section 4.12(a) restrictions apply. Those restrictions now run until 75 days after the Effective Date, as the purchase agreement defines that term. The company agreed to file a Form S-3 or other appropriate registration statement for the resale of the warrant shares within 60 calendar days of the waiver. It agreed to use commercially reasonable efforts to have that statement effective within 90 calendar days, or 120 calendar days if the SEC conducts a full review. The warrant was issued, and its shares will be issued on exercise, in reliance on Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D. ## Recent financial position The financial data attached to the filing come from the company's annual report on Form 10-K filed March 27, 2026. For fiscal 2025, Tenon reported revenue of $3.9 million, up from $3.3 million in 2024. Research and development expense was $2.1 million in 2025, against $2.6 million in 2024. The net loss was $12.6 million in 2025, against $13.7 million in 2024. Cash from operations was negative $10.7 million in 2025 and negative $9.9 million in 2024. Year-end cash and cash equivalents were $3.8 million for the year ended December 31, 2025, and $6.5 million for 2024. The most recent figure in the financial data is cash and cash equivalents of $1.7 million at June 30, 2026, taken from a 10-Q. ## The risks ahead The waiver lets the company raise its at-the-market sales, and it paid for that with a new warrant for up to 125,000 shares at $5.02 and a longer lock on its own sales. The company's cash and cash equivalents were $1.7 million at June 30, 2026, against cash from operations of negative $10.7 million for 2025 and a net loss of $12.6 million. The company still has to file the resale registration statement within 60 calendar days. The filing gives no date for the prospectus supplement or the amended sales agreement, so the size of any new sales is not yet known. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story TNON Tenon Medical, Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/tenon-medical-obtains-investor-waiver-increase-market-sales/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Tenon Medical obtains investor waiver to increase at-the-market sales", 2026-10-16, https://aibio.space/news/tenon-medical-obtains-investor-waiver-increase-market-sales/