Sabby group reports 9.9% Tempest Therapeutics (TPST) ownership block

Rhea-AI Filing Summary

Sabby Volatility Warrant Master Fund, Sabby Management, and Hal Mintz report a sizable position in Tempest Therapeutics. They collectively report beneficial ownership of 492,223 shares of Tempest Therapeutics common stock, representing 9.9% of the outstanding class as of the event date. All three reporting persons state they have shared power to vote and dispose of these shares and no sole voting or dispositive power. They also certify that the securities were not acquired and are not held for the purpose of changing or influencing control of Tempest Therapeutics, indicating a passive investment intent.

Insights

Institutional ownership analyst

Sabby entities disclose a passive 9.9% stake in Tempest Therapeutics.

Sabby Volatility Warrant Master Fund, Sabby Management, and Hal Mintz report beneficial ownership of 492,223 Tempest Therapeutics common shares, or 9.9% of the class. Voting and dispositive authority over these shares is reported as shared, with no sole power listed for any of the filers.

The Schedule 13G certification states that the position was not acquired and is not held to change or influence control of Tempest Therapeutics, which aligns with a passive-investor filing status. This distinguishes the filing from a control-seeking position that would typically be reported on a different schedule.

While a 9.9% stake is a meaningful ownership block, the filing emphasizes passive intent. Future position changes, if any, would generally be reflected in subsequent ownership reports rather than being implied here.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Tempest Therapeutics, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

87978U207

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 87978U207

1

Names of Reporting Persons

SABBY MANAGEMENT, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 492,223.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 492,223.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

492,223.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 87978U207

1

Names of Reporting Persons

Hal Mintz

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 492,223.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 492,223.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

492,223.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 87978U207

1

Names of Reporting Persons

Sabby Volatility Warrant Master Fund, Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 492,223.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 492,223.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

492,223.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Tempest Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 2000 SIERRA POINT PARKWAY, SUITE 400, BRISBANE, CALIFORNIA, 94005
Item 2.
(a)	Name of person filing: Sabby Volatility Warrant Master Fund, Ltd. Sabby Management, LLC Hal Mintz
(b)	Address or principal business office or, if none, residence: Sabby Volatility Warrant Master Fund, Ltd. c/o Captiva (Cayman) Ltd Governors Square, Bldg 4, 2nd Floor 23 Lime Tree Bay Avenue P.O. Box 32315 Grand Cayman KY1-1209 Cayman Islands Sabby Management, LLC 1011 Links Dr. Miami Beach, FL 33109 Hal Mintz c/o Sabby Management, LLC 1011 LInks Dr. Miami Beach, FL 33109
(c)	Citizenship: Sabby Volatility Warrant Master Fund, Ltd. - Cayman Islands Sabby Management, LLC - Delaware, USA Hal Mintz - USA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 87978U207
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: abby Volatility Warrant Master Fund, Ltd. - 492,223 Sabby Management, LLC - 492,223 Hal Mintz - 492,223
(b)	Percent of class: Sabby Volatility Warrant Master Fund, Ltd. - 9.9% Sabby Management, LLC - 9.9% Hal Mintz - 9.9%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 492,223
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 492,223
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SABBY MANAGEMENT, LLC

Signature:	/s/ Robert Grundstein
Name/Title:	COO
Date:	01/21/2026

Hal Mintz

Signature:	/S/ HAL MINTZ
Name/Title:	HAL MINTZ
Date:	01/14/2026

Sabby Volatility Warrant Master Fund, Ltd.

Signature:	/s/ Harry Thompson
Name/Title:	Harry Thompson
Date:	01/21/2026

FAQ

What ownership stake in TPST is reported in this Schedule 13G?

The filers report beneficial ownership of 492,223 shares of Tempest Therapeutics common stock, representing 9.9% of the outstanding class.

Who are the reporting persons in the Tempest Therapeutics (TPST) Schedule 13G?

The reporting persons are Sabby Volatility Warrant Master Fund, Ltd., Sabby Management, LLC, and Hal Mintz.

Do the Sabby entities and Hal Mintz have control intent over Tempest Therapeutics (TPST)?

The filers certify the securities were not acquired and are not held to change or influence control of Tempest Therapeutics, indicating passive investment intent.

How much voting and dispositive power do the Sabby filers report over TPST shares?

Each reporting person lists 0 shares with sole voting or dispositive power and 492,223 shares with shared voting and dispositive power.

What class of Tempest Therapeutics (TPST) securities is covered by this Schedule 13G?

The filing covers common stock of Tempest Therapeutics, Inc., identified by CUSIP 87978U207.

What is the event date referenced in the Tempest Therapeutics (TPST) Schedule 13G?

The date of the event requiring the filing is listed as 12/31/2025.