Tempest Therapeutics Inc. has announced its entry into a securities purchase agreement with a single institutional investor, as detailed in a recent prospectus filed with the Securities and Exchange Commission. The agreement allows Tempest to issue and sell 405,000 shares of common stock and prefunded warrants for 334,000 additional shares in a registered direct offering. The offering, priced at $6.25 per share of common stock and $6.249 per prefunded warrant, is aimed at raising funds to support strategic alternatives and general corporate purposes. The net proceeds, combined with existing cash reserves, are expected to fund the company's operations into the second quarter of 2026, although this estimate may change based on future financial needs. The company has engaged Cooley LLP to provide a legal opinion on the validity of the securities being issued.
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