• EN

    • -+ 0.00%
    -+ 0.00%
    -+ 0.00%

    UPDATE: Tempest To Acquire Factor's Dual-CAR T Programs In All-Stock Deal, Issuing 8,268,495 Shares; Stockholders Will Be Entitled To Receive 1 Common Stock Warrant For Every Share Of Common Stock Held And Outstanding At A Date Immediately Prior To The Closing; Warrants Will Be Immediately Exercisable With An Initial Exercise Price Equal To $18.48 And Will Expire 5-Years From The Issuance Date

    Benzinga·11/19/2025 14:57:12
    Listen to the news
    • Tempest will issue 8,268,495 shares of its common stock, par value $0.001 per share ("Common Stock"), to an affiliate of Factor, equal to 65% of the outstanding shares of Common Stock, inclusive of newly issued shares, as of November 19, 2025.
    • Existing Tempest stockholders will be entitled to receive one (1) common stock warrant for every share of Common Stock held and outstanding at a date immediately prior to the Closing (the "Warrants"). The Warrants will be immediately exercisable with an initial exercise price equal to $18.48 and will expire five years from the issuance date.
    • Existing cash at Closing and an investment commitment from Factor is expected to provide a runway to mid 2027 and potentially through key data milestones.
    • Upon Closing, Matt Angel, Ph.D. will become president and chief executive officer ("CEO") of Tempest and current Tempest president and CEO Stephen Brady will become Chairman of the Company's board of directors.