Lantern Pharma closes $4M registered direct offering with up to $8M total including warrants

Lantern Pharma Inc.

• Lantern Pharma sold 1,469,725 common shares at $1.09 and 2,200,000 pre-funded warrants at $1.0899 in a registered direct offering that closed September 30, 2026.
• In a concurrent private placement, Lantern issued warrants to purchase 3,669,725 shares at $1.09, exercisable only after stockholder approval and expiring five years after approval.
• Gross proceeds were approximately $4.0 million upfront, with up to $4 million more if the warrants are fully exercised; Rodman & Renshaw acted as placement agent.
• Lantern paid Rodman & Renshaw a 7% cash fee, issued placement agent warrants for 5% of shares sold at $1.3625 per share, and will pay a 3% cash fee on warrant exercises.
• The company must seek stockholder approval within 90 days of September 28, 2026 and intends to use net proceeds for working capital and general corporate purposes.