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Reg A+TRL87.7–8.4Tier IIOpen

Lantern Isotopes

Lantern Production Line Two

Fixed-rate notes on medical isotope production. No reactor, no fuel, and a customer base that cannot substitute.

Molybdenum-99 decays into the technetium-99m used in roughly forty million diagnostic scans a year, and it has historically come from a handful of aging research reactors, two of which have gone offline unexpectedly and caused global shortages. Accelerator production needs no reactor and no fissile fuel, and its output has a 66-hour half-life, which means the product cannot be stockpiled and customers cannot switch suppliers on short notice. Line one is in commercial operation; this funds line two.

Tri-Valley Isotope Facility · Livermore, CAOperating license issuedEscrow: Meridian Trust, N.A.
TRL 8 of 9, band 7.7 to 8.4, signed by Dr. Samuel Adeyemi, PhD Nuclear Engineering; ASME Section III reviewer, on May 10, 2026.See the evidence it rests on

$12,240,000 committed of $18,000,000

$11,016,000 released · 68% subscribed

Released to the issuerCommitted, held in escrowRemaining
Minimum
$500

$100 per unit

Target coupon
6.15%

Annual, fixed

Term
6 yr
Investors
2,483

Closes February 26, 2027 · 166 days remaining

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Use of proceeds

  • 47%Second accelerator and target station
  • 26%Hot cell and processing capacity
  • 15%Distribution and cold chain
  • 8%Licensing and quality systems
  • 4%Offering expenses and platform fees

The issuer

Accelerator production of medical isotopes. Molybdenum-99 underpins forty million diagnostic scans a year and has twice come close to running out globally.

Legal name
Lantern Isotopes, Inc.
Entity
Delaware C-corporation
Jurisdiction
California
Founded
2015

  • Priya RaghunathanChief Executive Officer

    Radiopharmaceutical supply chain and accelerator target design, eighteen years.