Tenon Medical shares surged 116% after the company repaid approximately $5.16 million of senior convertible notes in cash before their Sept. 11 maturity. The repayment eliminated the risk that noteholders could convert the debt into common shares at a discount, removing a potential dilution overhang for existing investors. Earlier trading updates had recorded a 95.49% gain to $4.77 and a premarket increase of as much as 75.41%. President and Chief Executive Officer Steven Foster said the transaction strengthened Tenon's financial position and preserved flexibility for commercialization and expansion. The move followed second-quarter revenue of $1.28 million, up 127% from a year earlier, as adoption of the Catamaran SI Joint Fusion System helped lift gross margin to 64% and gross profit by 232%.