Lantern Pharma Inc. has closed a registered direct offering and a concurrent private placement with an institutional investor, raising gross proceeds of approximately $4.0 million. The proceeds are intended for working capital and general corporate purposes.
Key Details
- Gross Proceeds: Approximately $4.0 million before deducting placement agent fees and other offering expenses.
- Registered Direct Offering: The offering, which closed on September 30, 2026, included the sale of 1,469,725 common shares at $1.09 per share and pre-funded warrants to purchase 2,200,000 shares at $1.0899 per warrant.
- Concurrent Private Placement: In a concurrent private placement, the company issued purchase warrants to acquire up to 3,669,725 shares of common stock at an exercise price of $1.09 per share. These warrants are exercisable for five years following stockholder approval.