DealsJun 2, 2026, 06:07 AM
Tempest Therapeutics Induces Warrant Exercise, Issues New Warrants
AI Summary
Tempest Therapeutics, Inc. announced an agreement to induce a holder to exercise existing warrants for approximately $2.0 million in cash. In exchange for exercising warrants at a reduced price, Tempest issued new warrants to purchase up to 2,344,828 shares of common stock. The company also engaged H.C. Wainwright & Co. as a placement agent for the transaction.
Key Highlights
- Tempest Therapeutics entered a warrant exercise and inducement offer with a holder of existing warrants.
- Holder exercised 1,172,414 warrants at a reduced price of $1.73 per share, totaling approximately $2.0 million.
- Tempest issued a new warrant to purchase up to 2,344,828 shares at $1.73 per share, expiring May 29, 2028.
- H.C. Wainwright & Co. acted as placement agent, receiving warrants for up to 82,069 shares at $2.1625 per share.
- Tempest agreed to file a registration statement for shares underlying the new warrants within 30 days.
Price Impact
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