Corporate ActionAug 13, 2026, 04:45 PM
Tempest Therapeutics Secures $50M Equity Purchase Agreement
AI Summary
Tempest Therapeutics, Inc. has entered into a purchase agreement and a registration rights agreement with Lincoln Park Capital Fund, LLC. Under the agreement, Lincoln Park has committed to purchase up to $50.0 million of the company's common stock. The company retains the discretion to sell shares over a period of up to 24 months, with an initial available amount of $25.0 million, which will automatically increase by an additional $25.0 million. A registration statement for the resale of these shares will be filed within 10 days.
Key Highlights
- Entered into a purchase agreement with Lincoln Park Capital Fund, LLC.
- Lincoln Park committed to purchase up to $50.0 million of common stock.
- Initial available amount is $25.0 million, automatically increasing by $25.0 million.
- Company has the right, but not obligation, to sell shares over 24 months.
- Company controls the timing and amount of sales to Lincoln Park.
- Sales are subject to a Nasdaq Exchange Cap of 19.99% of outstanding shares.
- A registration statement for resale will be filed within 10 days.
Price Impact
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