Lantern Pharma issues unregistered warrants for up to 3,669,725 shares in private placement
LTRN•Lantern Pharma closed a private placement of unregistered warrants to buy up to 3,669,725 common shares at $1.09 each. Full cash exercise could generate about $4 million in additional gross proceeds, but exercise requires stockholder approval and is not assured.
1. Warrant terms
The warrants become exercisable after stockholder approval of the underlying share issuance and expire five years after that approval. Lantern Pharma said there is no assurance any warrants will be exercised.
