Tenon Medical to be Delisted from Nasdaq

TL;DR

Nasdaq is kicking Tenon Medical off the exchange starting Aug 27th. They're appealing.

AI Summary

Tenon Medical, Inc. announced on August 23, 2024, that it received a notice from the Nasdaq Stock Market indicating non-compliance with listing rules. The company has been notified that its common stock will be delisted from the Nasdaq Capital Market, effective August 27, 2024. Tenon Medical intends to appeal this determination.

Why It Matters

This delisting will significantly impact the liquidity and accessibility of Tenon Medical's stock for investors.

Risk Assessment

Risk Level: high — Delisting from a major exchange like Nasdaq poses a significant risk to the company's ability to raise capital and maintain investor confidence.

Key Numbers

• August 27, 2024 — Delisting Date (The date Tenon Medical's common stock will be delisted from Nasdaq.)

Key Players & Entities

• Tenon Medical, Inc. (company) — Registrant
• Nasdaq Stock Market (company) — Exchange issuing delisting notice
• August 23, 2024 (date) — Date of notice
• August 27, 2024 (date) — Effective date of delisting

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share TNON The Nasdaq Stock Mar
• $2,500,000 — intain stockholders' equity of at least $2,500,000. In the Company's Quarterly Report on F
• $832,000 — ompany reported stockholders' equity of $832,000, which is below the minimum stockholder

Filing Documents

• ea0212336-8k_tenon.htm (8-K) — 29KB
• 0001213900-24-072610.txt ( ) — 240KB
• tnon-20240823.xsd (EX-101.SCH) — 4KB
• tnon-20240823_def.xml (EX-101.DEF) — 26KB
• tnon-20240823_lab.xml (EX-101.LAB) — 36KB
• tnon-20240823_pre.xml (EX-101.PRE) — 25KB
• ea0212336-8k_tenon_htm.xml (XML) — 5KB

01 Notice of Delisting or Failure to

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On August 23, 2024, Tenon Medical, Inc. (the "Company") received a written notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") dated August 23, 2024, notifying the Company that it is no longer in compliance with the minimum stockholders' equity requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires listed companies to maintain stockholders' equity of at least $2,500,000. In the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024, the Company reported stockholders' equity of $832,000, which is below the minimum stockholders' equity required for continued listing pursuant to Nasdaq Listing Rule 5550(b)(1). In addition, the Company does not currently meet the alternative compliance standards relating to the market value of listed securities or net income from continuing operations. Under Nasdaq rules, the Company has 45 calendar days to submit a plan or regain compliance, however the Notice provides the Company until October 7, 2024 to submit a plan or regain compliance with the minimum stockholders' equity standard. If the Company's plan to regain compliance is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the Notice for the Company to regain compliance. The Company is presently evaluating various courses of action to regain compliance and intends to timely submit a plan to Nasdaq to regain compliance with the Nasdaq Listing Rule 5550(b)(1). However, there can be no assurance that the Company's plan will be accepted or that if it is, the Company will be able to regain compliance and maintain its listing on The Nasdaq Capital Market. If the Company fails to submit a plan to regain compliance with the minimum stockholders' equity standard, or the Company's plan is not accepted, or if Nasdaq grants an extension but the Company

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 26, 2024 TENON MEDICAL, INC. By: /s/ Steven M. Foster Name: Steven M. Foster Title: Chief Executive Officer and President 2

View Full Filing

View this 8-K filing on SEC EDGAR