Tempest secures up to $50M equity line with Lincoln Park, issues 560K commitment-fee shares

Filed August 13, 2026 · Period ending August 13, 2026 · ~2 min read

Key Changes

• high

  Tempest entered a up to $50M equity line of credit with Lincoln Park Capital, allowing the company to sell common stock at its discretion over 24 months. The facility starts at $25M, expanding to up to $50M after the initial tranche is utilized.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  Nasdaq rules cap issuances at 19.99% of pre-agreement outstanding shares unless shareholders approve more or the average sale price meets or exceeds $1.3854 per share, limiting near-term dilution unless the stock price holds above that floor.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  The company issued 560,356 shares immediately as a commitment fee, with an additional 350,223 shares due after the first $25M is drawn. These shares represent upfront dilution separate from any future sales under the facility.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →