Tenon Medical Inc. (NASDAQ:TNON) shares jumped 23.77% to $3.02 in after-hours trading Wednesday after the California-based medical device company disclosed it repaid its outstanding convertible notes early.
Notes Retired Ahead of Maturity
According to its Wednesday Securities and Exchange Commission filing, Tenon repaid in full its original issue discount senior convertible promissory notes, carrying an aggregate principal balance of approximately $5.16 million.
The notes were issued Mar. 11 and were set to mature Sep. 11.
CEO Says Move Cuts Dilution Risk
