InvestmentMay 14, 2026, 05:32 PM
Lantern Pharma Raises $4.4M Upfront, up to $9.25M with Warrants
AI Summary
Lantern Pharma Inc. completed a registered direct offering and concurrent private placement, securing $4.4 million in gross proceeds upfront. The company has the potential to raise an additional $4.85 million if all unregistered warrants are fully exercised. The offering involved the sale of common stock, pre-funded warrants, and unregistered purchase warrants to institutional investors. Additionally, Lantern Pharma announced plans to establish its AI platform, withZeta.ai, as an independent subsidiary to attract dedicated funding and potentially achieve a separate valuation.
Key Highlights
- Raised $4.4 million in gross proceeds from a registered direct offering and concurrent private placement.
- Potential to raise an additional $4.85 million from the full exercise of unregistered warrants.
- Issued 1,454,175 common shares at $2.06 per share and pre-funded warrants for 681,748 shares at $2.0599.
- Issued unregistered purchase warrants for 2,135,923 shares at an exercise price of $2.27 per share.
- Warrants are exercisable six months after issuance and expire five years following the initial exercise date.
- Plans to create an independent subsidiary, withZeta.ai, for its AI platform.
- Placement agent, Rodman & Renshaw, received a 7% cash fee and warrants for 5% of shares sold.