Tempest announces $4.6 million registered direct offering of common stock; shares decline over 13%

* Tempest Therapeutics (NASDAQ:TPST [https://seekingalpha.com/symbol/TPST]) announced on Wednesday that it has entered into a definitive agreement with a single institutional investor for the purchase and sale in a registered direct offering of 739,000 shares of its common stock at an offering price of $6.25 per share of common stock
* The closing of the offering is expected to occur on or about June 12, 2025.
* The aggregate gross proceeds to the company from the offering are expected to be approximately $4.6 million, before deducting the placement agent’s fees and other offering expenses payable by the company.
* The company intends to use the net proceeds from this offering primarily for supporting the previously announced strategic alternative process and for working capital and general corporate purposes.
* TPST -13.85% premarket to $7.65.
* Source: Press Release [https://seekingalpha.com/pr/20133201-tempest-announces-4_6-million-registered-direct-offering-of-common-stock]

MORE ON TEMPEST THERAPEUTICS

* Tempest Therapeutics GAAP EPS of -$3.16 misses by $0.01 [https://seekingalpha.com/news/4447590-tempest-therapeutics-gaap-eps-of-3_16-misses-by-0_01]
* Seeking Alpha’s Quant Rating on Tempest Therapeutics [https://seekingalpha.com/symbol/TPST/ratings/quant-ratings]
* Historical earnings data for Tempest Therapeutics [https://seekingalpha.com/symbol/TPST/earnings]
* Financial information for Tempest Therapeutics [https://seekingalpha.com/symbol/TPST/income-statement]