BRISBANE, Calif. — November 26, 2025 — Leads & Copy —
Tempest Therapeutics, Inc. (Nasdaq: TPST) has completed a registered direct offering, raising approximately $4.25 million before deducting fees and expenses. The clinical-stage biotechnology company sold 1,172,414 shares of its common stock (or common stock equivalents) at $3.625 per share.
In a concurrent private placement, Tempest Therapeutics issued short-term unregistered warrants to purchase up to 1,172,414 shares of common stock at an exercise price of $3.50 per share. These warrants are immediately exercisable and will expire 18 months after the registration statement’s effective date for reselling the shares upon warrant exercise.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
The potential additional gross proceeds from the full exercise of the short-term unregistered warrants would be approximately $4.1 million. Tempest Therapeutics plans to use the net proceeds for working capital and general corporate purposes.
The shares of common stock (or common stock equivalents) were offered and sold via a registered direct offering, following a shelf registration statement on Form S-3 filed with the SEC on July 19, 2024, and amended on January 24, 2025, which became effective on January 27, 2025. The offering was conducted through a base prospectus and prospectus supplement.
The short-term unregistered warrants and associated shares were offered privately under Section 4(a)(2) of the Securities Act of 1933 and/or Regulation D, and are subject to restrictions on resale in the United States without registration or exemption.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy securities, nor will there be any sale of securities in any jurisdiction where such an offer, solicitation, or sale would be unlawful prior to registration or qualification under securities laws.
Tempest Therapeutics is a clinical-stage biotechnology company focused on developing tumor-targeted and immune-mediated therapeutics for a wide range of cancers. The company is headquartered in Brisbane, California.
Sylvia Wheeler
Wheelhouse Life Science Advisors
swheeler@wheelhouselsa.com
Aljanae Reynolds
Wheelhouse Life Science Advisors
areynolds@wheelhouselsa.com
Source: Tempest Therapeutics, Inc.
