Tempest Therapeutics, Inc. is conducting a registered direct offering of common stock and a concurrent private placement of warrants.
The offering and placement aim to raise approximately $8.35 million in gross proceeds for the company.
The company plans to use the net proceeds primarily for working capital and general corporate purposes.
Offering Details
1,172,414 shares of common stock priced at $3.625 per share in the registered direct offering.
Concurrent Private Placement
Short-term unregistered warrants to purchase up to 1,172,414 shares at an exercise price of $3.50 per share.
Expected Gross Proceeds
Approximately $4.25 million from the registered direct offering, with potential additional gross proceeds of $4.1 million from the warrants.
Use of Proceeds
Net proceeds primarily allocated for working capital and general corporate purposes.
- The offering is structured to raise funds for Tempest Therapeutics' ongoing operations and development initiatives.
- The successful completion of the offering will strengthen the company's financial position and support further advancement of its innovative pipeline.
Tempest Therapeutics' strategic move to raise funds through a direct offering and private placement highlights a proactive approach to financial management and growth.