other material
confidence high
sentiment neutral
materiality 0.50
Tempest Therapeutics enters $50M equity purchase agreement with Lincoln Park Capital
Tempest Therapeutics, Inc.
- Up to $50M common stock purchase commitment; initial $25M available, auto-increases to $50M.
- Commitment fee: 560,356 shares issued immediately; 350,223 additional after full funding of initial $25M.
- Company controls timing/amount; regular purchases up to 60,000 shares (max $500k per purchase) at market-based prices.
- Lincoln Park capped at 4.99% beneficial ownership; no short sales; company can terminate with 1 business day notice.
- Exchange cap 19.99% unless stockholder approval or average price >= $1.3854 per share.