Tempest Therapeutics issues unregistered warrant for up to 2,344,828 shares in inducement deal

Tempest Therapeutics, Inc.

Tempest Therapeutics, Inc.

TPST

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  • Tempest Therapeutics priced an inducement deal tied to existing warrants, issuing a new unregistered warrant in a private placement-style transaction.
  • One holder agreed to cash-exercise existing warrants for 1,172,414 shares at USD 1.73 per share, generating about USD 2 million gross proceeds.
  • In exchange, the investor received a new unregistered warrant for 2,344,828 shares at USD 1.73, exercisable after required Nasdaq stockholder approval.
  • H.C. Wainwright served as placement agent, receiving warrants for 82,069 shares with a USD 2.16 exercise price.


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