The medical device firm secured compliance after a $4.2M public offering restored stockholders’ equity above Nasdaq’s threshold.
Tenon Medical (NASDAQ:TNON) announced it regained compliance with Nasdaq Listing Rule 5550(b)(1), which requires $2.5M in stockholders’ equity. The company achieved this after completing a $4.2M public offering.
Nasdaq had previously notified Tenon Medical of non-compliance following its July 10 Form 8-K filing. The July 17 notice confirmed the company met the required equity threshold, avoiding potential delisting.
No immediate market reaction was disclosed in the announcement.