S-1 · primary offering
Issued 2026
Proposed maximum
Shares registered
- Filed
- Effective
TNON$1.99+3.11%
Tenon Medical, Inc.
Sector: Surgical & Medical Instruments & ApparatusIndustry: Medical - DevicesCountry: USExchange: Nasdaq
Mkt Cap:$5.35M
Float & O/S:
Inst Own:
DilutionScan read 55 of Tenon Medical, Inc.'s SEC filings and found 17 warrant series, 3 convertibles, 2 ATM programs, 1 equity line, 3 shelf registrations, 7 S-1 registrations and 5 completed offerings on file for TNON. The latest dilution event on file is ATM sales on Oct 16, 2026. Analysis updated Oct 24, 2026.
Signal8 Summary
TNON
Going-concern warning and delisting risk
Snapshot
Tenon Medical is a tiny medical device company in severe financial distress. While revenue is growing, jumping 20.4% to $3.9 million in FY 2025, the business burns cash rapidly. It lost $12.6 million on the bottom line and generated $11 million in negative free cash flow. With only $3.8 million in cash and a cash runway of just 1.9 months, the company is running out of money.
What's Happening Right Now
- : Tenon Medical is seeking stockholder approval for a reverse stock split to regain Nasdaq compliance and avoid delisting by August 2026.
- : Nasdaq notified Tenon that it failed to meet the minimum stockholders' equity requirement, giving it until July 2026 to submit a compliance plan.
- : The company disclosed substantial doubt about its ability to continue as a going concern, citing insufficient cash to fund operations for the next 12 months.
- : Q1 2026 revenue rose 90% year-over-year to $1.4 million, but the company posted a net loss of $3.5 million.
Raise routes on file: active ATM + effective shelf + pending S-1 + effective S-1 · latest dilution event 18 days ago
Overall Risk
Offering Ability
Overhead Supply
Historical
Cash Need
AI dilution summary
The dominant contractual driver and its mechanism, then each further driver ranked.
Latest dilution event
Oct 16, 2026 · ATM Sale
Every warrant, convertible, ATM and shelf, cited to the filing
A free account reads 3 tickers a day in full
$59/mo with 7 days free, or $49/mo billed yearly ($588/yr)
Share count and cash history
Shares outstanding, potential dilution and cash over time
Completed
S-1 · primary offering
Issued 2026
Proposed maximum
Shares registered
- Filed
- Effective
S-1 · resale registration
Issued 2025
Proposed maximum
Shares registered
- Filed
- Effective
S-1 · resale registration
Issued 2024
Proposed maximum
Shares registered
- Filed
- Effective
S-1 · primary offering
Issued 2021
Proposed maximum
Shares registered
- Filed
- Effective
S-1 · primary offering
Issued 2023
Proposed maximum
Shares registered
- Filed
- Effective
Warrant
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Warrant
Issued 2023
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Convertible Note Warrants (November 2023)
Issued 2023
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Series A Preferred Stock Warrants (February 20, 2024)
Issued 2024
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Series B Preferred Stock Warrants (September 5, 2024)
Issued 2024
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Series C-1 Warrants (March 2025 inducement)
Issued 2025
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Convertible
Principal
Conversion Price
Remaining principal
- Shares on conversion
- Interest rate
- Maturity
Series A Convertible Preferred Stock
Principal
Conversion Price
Remaining principal
- Shares on conversion
- Interest rate
- Maturity
Series B Convertible Preferred Stock
Principal
Conversion Price
Remaining principal
- Shares on conversion
- Interest rate
- Maturity
ATM program
Issued 2023
Total capacity
Sold to date
Remaining capacity
- Sales agent
- Agreement date
- Commission
ATM program
Issued 2026
Total capacity
Sold to date
Remaining capacity
- Sales agent
- Agreement date
- Commission
Equity line
Issued 2023
Commitment
Sold to date
Remaining
- Agreement date
- Term ends
- Discount
S-3 shelf registration
Issued 2026
Total capacity
Remaining
- Filed
- Effective
- Expires
- Baby shelf
S-3 shelf registration
Issued 2025
Total capacity
Remaining
- Filed
- Effective
- Expires
- Baby shelf
S-3 shelf registration
Issued 2026
Total capacity
Remaining
- Filed
- Effective
- Expires
- Baby shelf
PIPE
Issued 2025
Gross proceeds
Price per share
- Shares issued
- Warrant coverage
- Placement agent
PIPE
Issued 2026
Gross proceeds
Price per share
- Shares issued
- Warrant coverage
- Placement agent
Public offering
Issued 2026
Gross proceeds
Price per share
- Shares issued
- Warrant coverage
- Placement agent
PIPE
Issued 2026
Gross proceeds
Price per share
- Shares issued
- Warrant coverage
- Placement agent
Offering
Issued 2026
Gross proceeds
Price per share
- Shares issued
- Warrant coverage
- Placement agent
Know who's about to sell into your TNON trade
Exercise prices, conversion terms, shelf headroom and the filing sentence behind every number.
$59/mo with 7 days free, or $49/mo billed yearly ($588/yr)
