Lantern Pharma raises $4.4M through registered direct offering; plans to spin out AI platform

Lantern Pharma Inc.

Offered 2,135,923 shares at $2.06/share (or pre-funded warrants) plus unregistered warrants for equal shares.
Unregistered warrants have exercise price $2.27, exercisable after 6 months, expire 5 years from initial exercise.
Up to additional $4.85M gross proceeds if warrants fully exercised; no assurance of exercise.
Company plans to separate AI platform withZeta.ai into independent entity; may become publicly listed.
Suspended ATM sales under July 2025 agreement with ThinkEquity; agreement remains in effect.

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