Tempest raises $2M by slashing warrant price 51%, issues new warrants for 2.3M shares

Filed June 2, 2026 · Period ending May 28, 2026 · ~1 min read

Key Changes

• high

  Company induced warrant exercise by cutting price from $3.50 to $1.73 per share, raising ~$2M gross but issuing new warrants for twice as many shares (2.3M), creating significant future dilution risk.

  Item 1.01 verify on EDGAR →
• high

  New warrants expire May 2028 and require shareholder approval before becoming exercisable. Include cashless exercise rights if shares aren't registered, meaning company may not receive cash from future exercises.

  Item 1.01 verify on EDGAR →
• medium

  Placement agent receives cascading compensation: immediate warrants for 82K shares plus 7% cash fee and 7% additional warrants on any new warrant exercises within 24 months, compounding dilution.

  Item 1.01 verify on EDGAR →