Lantern Pharma Inc. [LTRN] - Registered Direct Offering
Lantern Pharma Inc. raised approximately $4.0 million in a registered direct offering, with a cash fee of 3.0% payable to the Placement Agent on gross exercise prices of Purchase Warrants.
Why this matters
Lantern Pharma Inc., a Texas-based company in the pharmaceutical preparations industry, focuses on developing precision oncology therapies using advanced genomics and machine learning. The company has announced a registered direct offering, raising approximately $4 million through the sale of 3,669,725 shares of common stock at $1.09 per share. Concurrently, Lantern Pharma is issuing unregistered warrants in a private placement, allowing the purchase of an additional 3,669,725 shares at the same exercise price, contingent upon stockholder approval. The proceeds from this offering are intended for working capital and general corporate purposes, with Rodman Renshaw LLC acting as the exclusive placement agent.