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Lantern Pharma Announces Closing of Public Offering of $69 Million USD and Full Exercise of Underwriter's Over-Allotment Option
DALLAS, Jan. 20, 2021 /PRNewswire/ -- Lantern Pharma (Nasdaq: LTRN), a clinical-stage biopharma company using its proprietary RADR® artificial intelligence
About this update from Lantern Pharma Inc.
[{"type":"text","content":"DALLAS, Jan. 20, 2021 /PRNewswire/ -- Lantern Pharma (Nasdaq: LTRN), a clinical-stage biopharma company using its proprietary RADR® artificial intelligence (\"A.I.\") platform to transform cancer drug development and identify patients who will benefit from its targeted oncology therapeutics, today announced the closing of its previously announced public offering of 4,928,571 shares of its common stock at a public offering price of $14.00 per share, which includes 642,856 shares sold upon full exercise of the underwriter's option to purchase additional common shares. The gross proceeds from the offering, including the exercise of the over-allotment option, were $68,999,994, before deducting underwriting discounts, commissions and offering expenses.\n\n \n \n \n \n \n \n\n \nThinkEquity, a division of Fordham Financial Management, Inc., acted as sole book-running manager for the offering. Colliers Securities LLC acted as co-manager for the offering.\nA registration statement on Form S-1 (File No. 333-251992) relating to the shares was filed with the Securities and Exchange Commission and became effective on January 14, 2021, and a related registration statement on Form S-1 (File No. 333-252116) was filed pursuant to Rule 462(b) of the Securities Act of 1933, as amended, in connection with the upsizing of the offering. This offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at [email protected].\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.\nAbout Lantern Pharma\nLantern Pharma (LTRN) is a clinical-stage biopharmaceutical company innovating the repurposing, revitalization and development of precision therapeutics in oncology. We leverage advances in machine learning, genomics, and artificial intelligence by using a proprietary A.I. platform to discover biomarker signatures that help identify patients mo...