Tempest Therapeutics, Inc. (TPST), a clinical-stage biotech firm developing first-in-class targeted and immune-mediated cancer therapies, has entered into a definitive agreement with a single institutional investor for a registered direct offering.
The deal includes 739,000 shares of common stock or equivalents priced at $6.25 per share, expected to close on or about June 12, 2025, pending standard conditions.
H.C. Wainwright & Co. is serving as the exclusive placement agent. The gross proceeds are anticipated to be approximately $4.6 million, intended to support Tempest's ongoing strategic alternatives process, working capital, and general corporate needs.
The offering is being conducted under a shelf registration statement previously filed and declared effective by the SEC. Final prospectus documents will be filed with the SEC and made available online or directly from H.C. Wainwright & Co.
The company emphasized that this announcement does not constitute a sales offer or solicitation in any jurisdiction where such actions would be illegal.
Wednesday, TPST closed at $7.47, down 15.88%, and rose to $7.50 or 0.40% higher in after-hours trading on the NasdaqCM.
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