Leslie W. Kreis - 17 Jan 2024 Form 4 Insider Report for Lantern Pharma Inc. (LTRN)

Role
10%+ Owner
Signature
Leslie W. Kreis, Jr By: /s/ Daniel Schwarz, as attorney-in-fact
Issuer symbol
LTRN
Transactions as of
17 Jan 2024
Net transactions value
+$1.93
Form type
4
Filing time
19 Jan 2024, 16:30:18 UTC
Previous filing
14 Dec 2023
Next filing
29 Feb 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LTRN Common Stock Exercise of in-the-money or at-the-money derivative security $22,996 +7,347 +10% $3.13 79,121 17 Jan 2024 By Bios Fund II NT, LP F2, F3, F4
transaction LTRN Common Stock Sale $22,995 -5,475 -6.9% $4.20 73,646 17 Jan 2024 By Bios Fund II NT, LP F1, F2, F3, F4
transaction LTRN Common Stock Exercise of in-the-money or at-the-money derivative security $171,752 +54,873 +10% $3.13 591,036 17 Jan 2024 By Bios Fund II QP, LP F2, F3, F4
transaction LTRN Common Stock Sale $171,751 -40,893 -6.9% $4.20 550,143 17 Jan 2024 By Bios Fund II QP, LP F1, F2, F3, F4
transaction LTRN Common Stock Exercise of in-the-money or at-the-money derivative security $52,587 +16,801 +10% $3.13 180,938 17 Jan 2024 By Bios Fund II, LP F2, F3, F4
transaction LTRN Common Stock Sale $52,588 -12,521 -6.9% $4.20 168,417 17 Jan 2024 By Bios Fund II, LP F1, F2, F3, F4
holding LTRN Common Stock 217,553 17 Jan 2024 By Bios Fund I QP, LP( F2, F3, F4
holding LTRN Common Stock 371,950 17 Jan 2024 By Bios Fund I, LP F2, F3, F4
holding LTRN Common Stock 26,093 17 Jan 2024 By BP Directors, LP F2, F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LTRN Series A Warrants Exercise of in-the-money or at-the-money derivative security $0 -7,347 -100% $0.000000* 0 17 Jan 2024 Common Stock 7,347 $3.13 By Bios Fund II NT, LP F2, F3, F4
transaction LTRN Series A Warrants Exercise of in-the-money or at-the-money derivative security $0 -54,873 -100% $0.000000* 0 17 Jan 2024 Common Stock 54,873 $3.13 By Bios Fund II QP, LP F2, F3, F4
transaction LTRN Series A Warrants Exercise of in-the-money or at-the-money derivative security $0 -16,801 -100% $0.000000* 0 17 Jan 2024 Common Stock 16,801 $3.13 By Bios Fund II, LP F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On January 17, 2024, each of Bios Fund II NT, LP ("Bios Fund II NT"), Bios Fund II QP, LP ("Bios Fund II QP") and Bios Fund II, LP ("Bios Fund II") exercised warrants to purchase 7,347, 54,873 and 16,801, respectively, shares of common stock of the Issuer. Each of Bios Fund II NT, Bios Fund II QP and Bios Fund II paid the exercise price on a cashless basis, resulting in the Issuer withholding 5,475, 40,893 and 12,521, respectively, of the warrant shares to pay the exercise price and issuing Bios Fund II NT, Bios Fund II QP and Bios Fund II the remaining 1,872, 13,980 and 4,280 shares respectively.
F2 Bios Equity Partners, LP ("Bios Equity I") is the general partner of the following entities: Bios Fund I, LP ("Bios Fund I"), Bios Fund I QP, LP ("Bios Fund I QP") and BP Directors, LP ("Bios Directors"). Bios Equity Partners II, LP ("Bios Equity II") is the general partner of the following entities: Bios Fund II, Bios Fund II QP and Bios Fund II NT. Cavu Management, LP ("Cavu Management"), an entity managed and controlled by Mr. Kreis, and Bios Capital Management, LP ("Bios Management"), an entity managed and controlled by Aaron Glenn Louis Fletcher, are each a general partner of Bios Equity I and Bios Equity II. Cavu Advisors LLC ("Cavu Advisors"), an entity that is managed and controlled by Mr. Kreis, is the general partner of Cavu Management. Bios Advisors GP, LLC ("Bios Advisors"), an entity that is managed and controlled by Mr. Fletcher, is the general partner of Bios Management.
F3 Mr. Kreis, Cavu Management, Cavu Advisors, Mr. Fletcher, Bios Management and Bios Advisors each share voting and investment control with respect to the shares held by Bios Fund I, Bios Fund I QP, Bios Directors, Bios Fund II, Bios Fund II QP and Bios Fund II NT (collectively, the "Bios Equity Entities"). Because of the relationship between Mr. Kreis, Mr. Fletcher, Cavu Management, Bios Management, Cavu Advisors, Bios Advisors and the Bios Equity Entities, Mr. Kreis, Mr. Fletcher, Cavu Management, Bios Management, Cavu Advisors and Bios Advisors each may be deemed to beneficially own the shares held directly by the Bios Equity Entities.
F4 For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

Remarks:

This Form 4 is the first of two Forms 4 filed relating to the same event. The Form 4 has been split into two filings because there are more than 10 reporting persons in total, and the SEC's EDGAR filing system limits a single Form 4 to a maximum of 10 reporting person. The second Form 4 will be filed by Aaron Glenn Louis Fletcher as the designated filer.