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By Val Kennedy,

Medical device maker Tenon Medical (TNON) has set additional terms for its proposed $20M initial public offering.

The orthopedic device developer plans to offer 4M shares priced between $4.50 and $5.50. If priced at $5 per share, the deal would raise around $20M.

The company has applied to list its shares on Nasdaq under the symbol TNON. The Benchmark Company and Valuable Capital Limited are serving as lead bookrunners.

Tenon has developed a surgical implant system called The Catamaran for treatment of lower back pain associated with the sacroiliac joint. A full launch of the system, which has been approved by the US Food and Drug Administration, is slated for Q1 2022.

For 2021, Tenon reported a net loss of $7.1M on revenue of $160k.

Tenon said it plans to use proceeds from the deal to support the commercial launch of The Catamaran System, product development and other corporate purposes.

Source : preiposwap.com/tenon-medical-sets-additi...for-proposed-20m-ipo

The organization has applied to list its portions on Nasdaq under the image TNON. The Benchmark Company and Valuable Capital Limited are filling in as lead bookrunners.

Tenon said it intends to utilize continues from the arrangement to help the business send off of The Catamaran System, item improvement and other corporate purposes.