Corporate ActionMay 29, 2026, 08:02 AM
Tempest Therapeutics Raises $2M Gross from Warrant Exercise
AI Summary
Tempest Therapeutics announced the immediate exercise of 1,172,414 outstanding warrants at a reduced price of $1.73 per share, down from the original $3.50. This transaction is expected to generate approximately $2 million in gross proceeds for the company. Additionally, Tempest will issue 2,344,828 new unregistered short-term warrants, also exercisable at $1.73 per share, which could provide an additional $4 million if fully exercised. The company plans to use the net proceeds for working capital and general corporate purposes.
Key Highlights
- Tempest Therapeutics to receive approximately $2 million in gross proceeds from immediate warrant exercise.
- 1,172,414 outstanding warrants exercised at a reduced price of $1.73 per share.
- Original exercise price for these warrants was $3.50 per share.
- Company will issue 2,344,828 new unregistered short-term warrants.
- New short-term warrants exercisable at $1.73 per share, potentially raising $4 million.
- Proceeds from the transaction will be used for working capital and general corporate purposes.
Price Impact
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