Tempest Announces Closing of Up To $8.35 Million Registered Direct Offering of Common Stock and Concurrent Private Placement of Warrants Priced At-the-Market Under Nasdaq Rules

Core Viewpoint - Tempest Therapeutics, Inc. has successfully closed a registered direct offering, raising approximately $4.25 million, with potential additional proceeds of up to $4.1 million from short-term unregistered warrants [1][3]. Group 1: Offering Details - The company sold 1,172,414 shares of common stock at an offering price of $3.625 per share [1]. - Concurrently, short-term unregistered warrants were issued to purchase an additional 1,172,414 shares at an exercise price of $3.50 per share, which are immediately exercisable and will expire in eighteen months [1][3]. - The total gross proceeds from the offering are approximately $4.25 million before deducting fees and expenses [3]. Group 2: Use of Proceeds - The net proceeds from the offering will primarily be used for working capital and general corporate purposes [3]. Group 3: Company Overview - Tempest Therapeutics is a clinical-stage biotechnology company focused on developing targeted and immune-mediated therapeutics for cancer treatment [7].