Why Tenon Medical (TNON) Stock Is Getting Hammered

Tenon Medical Inc TNON shares are trading lower by 27.2% to $0.18 Monday morning after the company announced proposed public offering of common stock.

All the common stock shares are being made available for sale by Tenon. The offering is contingent upon market conditions and other factors. The company says there is no guarantee regarding the timing or completion of the offering, nor the precise magnitude or specific terms of the offering.

Maxim Group LLC is acting as the sole placement agent.

According to data from Benzinga Pro, TNON has a 52-week high of $3.11 and a 52-week low of $0.20.