Tempest Therapeutics, Inc. has announced the execution of a securities purchase agreement with two institutional investors and Factor Bioscience Inc. The agreement, dated March 20, 2026, involves the issuance and sale of 462,964 shares of the company's common stock at a price of $2.16 per share, along with pre-funded warrants to purchase an additional 462,963 shares. The total gross proceeds from this private placement are expected to be approximately $2 million, excluding potential future proceeds from the exercise of warrants, which could add up to $4 million. The transaction is anticipated to close on or about March 23, 2026, subject to customary closing conditions. The funds raised will primarily be utilized for working capital and general corporate purposes. Additionally, the company has committed to seeking stockholder approval for the issuance of shares upon the exercise of the common warrants within 90 days following the agreement date. This strategic move is expected to enhance the company's liquidity position and support its operational initiatives moving forward.

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