Tempest Therapeutics prices $2.5 million private placement at $0.81 per share

Tempest Therapeutics priced a private placement of 3,105,591 common shares or pre-funded warrants at $0.81 per share, together with Series C and Series D warrants.

The company said the gross proceeds are expected to be about $2.5 million. Warrant exercises could add about $5 million, although there is no assurance the warrants will be exercised.

The warrants carry a $0.81 exercise price and will be exercisable upon stockholder approval. Series C warrants expire in six years and Series D warrants expire in three years.

Closing is expected on or about Sept. 14, 2026. H.C. Wainwright is acting as exclusive placement agent.

Tempest said the proceeds are earmarked for working capital and general corporate purposes.