CEO Matthew Angel Reports 35.9% Stake in Tempest Therapeutics Following Asset Acquisition

summarizeSummary

Matthew Angel, CEO, President, and Director of Tempest Therapeutics, has reported beneficial ownership of 35.9% of the company's common stock following the recent asset acquisition, solidifying his significant stake and control.

check_boxKey Events

• Significant Ownership Stake

  Matthew Angel, CEO, President, and Director, now beneficially owns 4,837,070 shares, representing 35.9% of Tempest Therapeutics' outstanding common stock.

• Acquisition-Related Ownership

  This ownership stems from the asset purchase agreement with Erigen LLC and Factor Bioscience Inc., which closed on February 3, 2026, where Tempest issued 8,268,495 shares as consideration. Angel acquired his interest through personal funds invested in Erigen.

• Lock-Up Agreement in Place

  Erigen, the entity through which Angel received shares, entered into a lock-up agreement restricting the transfer of 50% of its shares for 180 days post-closing.

• Investment Purpose Stated

  Angel states the shares were acquired for investment purposes, with potential for future acquisitions or dispositions.

auto_awesomeAnalysis

This Schedule 13D filing formally discloses that Matthew Angel, the CEO, President, and a Director of Tempest Therapeutics, has become a significant beneficial owner, holding 35.9% of the company's common stock. This substantial stake, valued at over $11.7 million, is a direct result of the asset acquisition from Erigen LLC and Factor Bioscience Inc., which was previously disclosed in 8-K filings on January 28, 2026, and February 6, 2026. While the overall asset acquisition was highly dilutive, Angel's personal investment and subsequent large ownership position demonstrate a strong alignment of interests with shareholders and a significant vote of confidence in the company's future direction. His role as a major shareholder, combined with his executive positions, indicates consolidated control and a clear strategic vision following the recent corporate restructuring. Investors should monitor future disclosures regarding the integration of the acquired assets and any strategic initiatives under this new ownership structure.