Medical device maker Tenon Medical (TNON) has set additional terms for its proposed $20M initial public offering.

The orthopedic device developer plans to offer 4M shares priced between $4.50 and $5.50. If priced at $5 per share, the deal would raise around $20M.

The company has applied to list its shares on Nasdaq under the symbol TNON. The Benchmark Company and Valuable Capital Limited are serving as lead bookrunners.

Tenon has developed a surgical implant system called The Catamaran for treatment of lower back pain associated with the sacroiliac joint. A full launch of the system, which has been approved by the US Food and Drug Administration, is slated...