Farallon-Affiliated Funds Disclose Indirect 10%+ Position in Lantheus (LNTH)

Rhea-AI Filing Summary

Lantheus Holdings, Inc. (LNTH) reported that certain investment funds affiliated with Farallon (the "Farallon Funds") hold 6,883,227 shares of common stock, held indirectly. The filing notes the company had 67,994,149 shares outstanding as of August 1, 2025, and because the total shares outstanding were reduced, the Farallon Funds now beneficially own more than 10.0% of the common stock without any reported purchase by the reporting persons.

The Form 3 lists multiple Farallon-affiliated reporting persons who may be deemed to have investment discretion or indirect beneficial ownership through Farallon General Partners and Managing Members, while those parties disclaim beneficial ownership except to the extent of any pecuniary interest. The filing is limited to non-derivative holdings and includes an Exhibit 24 power of attorney.

Positive

• Clear disclosure that the Farallon Funds hold 6,883,227 shares and that the >10% threshold resulted from a reduction in shares outstanding, not new purchases
• Identification of affiliated reporting persons and inclusion of Exhibit 24 (Powers of Attorney) provide transparency about who is filing and who may exercise investment discretion

Negative

• None.

Insights

Securities Analyst

TL;DR: Farallon-affiliated funds disclose >10% ownership of LNTH due solely to a reduction in shares outstanding, not new purchases.

This Form 3 reports an indirect position of 6,883,227 common shares, representing over 10.0% of LNTH given 67,994,149 shares outstanding as disclosed. For investors, a new >10% holder can affect shareholder dynamics and disclosure obligations; however, the filing explicitly states no acquisition occurred and attributes the threshold crossing to a reduction in shares outstanding. The position is held through multiple Farallon Funds and may be attributed to general partner or managing member roles, with standard disclaimers of beneficial ownership except for pecuniary interest.

Corporate Governance Expert

TL;DR: A bloc of Farallon-affiliated entities is reported as >10% beneficial owners via indirect fund holdings, with formal disclaimers by managers.

The Form 3 clarifies that the reported stake is indirect, held by Farallon Funds, and that Farallon General Partners and listed Managing Members may be deemed beneficial owners due to investment discretion. The filing includes customary disclaimers limiting claimed beneficial ownership to pecuniary interest. The disclosure also notes duplicate/parallel Form 3 filings for other related persons, and an Exhibit 24 powers-of-attorney is attached for signature authority.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

PATEL RAJIV A

(Last) (First) (Middle)

C/O FARALLON CAPITAL MANAGEMENT, L.L.C.

ONE MARITIME PLAZA, SUITE 2100

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/06/2025

3. Issuer Name and Ticker or Trading Symbol
Lantheus Holdings, Inc. [ LNTH ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a Group Owning 10%

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	6,883,227	I	See Footnotes(1)(2)(3)(4)(5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

PATEL RAJIV A

(Last) (First) (Middle)

C/O FARALLON CAPITAL MANAGEMENT, L.L.C.

ONE MARITIME PLAZA, SUITE 2100

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a Group Owning 10%

1. Name and Address of Reporting Person^*

Roberts Thomas G. Jr.

(Last) (First) (Middle)

C/O FARALLON CAPITAL MANAGEMENT, L.L.C.

ONE MARITIME PLAZA, SUITE 2100

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a Group Owning 10%

1. Name and Address of Reporting Person^*

Saito Edric C.

(Last) (First) (Middle)

C/O FARALLON CAPITAL MANAGEMENT, L.L.C.

ONE MARITIME PLAZA, SUITE 2100

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a Group Owning 10%

1. Name and Address of Reporting Person^*

Seybold William

(Last) (First) (Middle)

C/O FARALLON CAPITAL MANAGEMENT, L.L.C.

ONE MARITIME PLAZA, SUITE 2100

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a Group Owning 10%

1. Name and Address of Reporting Person^*

Short Daniel S.

(Last) (First) (Middle)

C/O FARALLON CAPITAL MANAGEMENT, L.L.C.

ONE MARITIME PLAZA, SUITE 2100

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a Group Owning 10%

1. Name and Address of Reporting Person^*

Spokes Andrew J M

(Last) (First) (Middle)

C/O FARALLON CAPITAL MANAGEMENT, L.L.C.

ONE MARITIME PLAZA, SUITE 2100

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a Group Owning 10%

1. Name and Address of Reporting Person^*

Warren John R.

(Last) (First) (Middle)

C/O FARALLON CAPITAL MANAGEMENT, L.L.C.

ONE MARITIME PLAZA, SUITE 2100

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a Group Owning 10%

1. Name and Address of Reporting Person^*

WEHRLY MARK C

(Last) (First) (Middle)

C/O FARALLON CAPITAL MANAGEMENT, L.L.C.

ONE MARITIME PLAZA, SUITE 2100

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of a Group Owning 10%

Explanation of Responses:

1. The entities and individuals identified in the footnotes of this Form 3 may be deemed members of a group holding equity securities of Lantheus Holdings, Inc. (the "Issuer"). The filing of this Form 3 and any statements included herein shall not be deemed to be an admission that such entities and individuals are members of such a group.

2. Since the number of reporting persons that may be listed on a Form 3 is limited, the entities and individuals listed in these footnotes that are not reporting persons on this Form 3 are filing an additional Form 3 on the date hereof as reporting persons with respect to the securities described herein (the "Parallel Form 3"). Information regarding these entities and individuals is included in this Form 3 for purposes of clarification and convenience only, and is duplicative of the information reported in the Parallel Form 3.

3. The amount of securities shown in this row is held directly by certain investment funds affiliated with the reporting persons (the "Farallon Funds").

4. Farallon Partners, L.L.C. and certain affiliated entities (the "Farallon General Partners"), as general partner or sole member of the general partner, as the case may be, of each of the Farallon Funds, may be deemed to be a beneficial owner of the Issuer's securities held by the Farallon Funds. The Farallon General Partners disclaim any beneficial ownership of any of the Issuer's securities reported or noted herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "'34 Act"), or otherwise, except to the extent of their pecuniary interest, if any.

5. Each of Joshua J. Dapice, Philip D. Dreyfuss, Hannah E. Dunn, Richard B. Fried, Varun N. Gehani, Nicolas Giauque, David T. Kim, Michael G. Linn, Patrick (Cheng) Luo, Rajiv A. Patel, Thomas G. Roberts, Jr., Edric C. Saito, William Seybold, Daniel S. Short, Andrew J. M. Spokes, John R. Warren, and Mark C. Wehrly (collectively, the "Managing Members"), as a managing member or manager, or senior managing member or senior manager, as the case may be, of each of the Farallon General Partners, in each case with the power to exercise investment discretion, may be deemed to be a beneficial owner of the Issuer's securities held by the Farallon Funds. Each of the Managing Members disclaims any beneficial ownership of any of the Issuer's securities reported or noted herein for purposes of Section 16 of the '34 Act or otherwise, except to the extent of his or her pecuniary interest, if any.

Remarks:

On a Form 10-Q filed by the Issuer on August 6, 2025, the Issuer disclosed that, as of August 1, 2025, the Issuer had 67,994,149 shares of common stock outstanding. The reporting persons are filing this Form 3 to reflect the fact that, due solely to the reduction in the number of shares of common stock outstanding reflected in such Form 10-Q, the Farallon Funds hold greater than 10.0% of the common stock outstanding. This Form 3 does not reflect any acquisition of common stock by any reporting person. Exhibit List: Exhibit 24 - Powers of Attorney

	/s/ Hannah E. Dunn, as attorney-in-fact	08/18/2025
	/s/ Hannah E. Dunn, as attorney-in-fact	08/18/2025
	/s/ Hannah E. Dunn, as attorney-in-fact	08/18/2025
	/s/ Hannah E. Dunn, as attorney-in-fact	08/18/2025
	/s/ Hannah E. Dunn, as attorney-in-fact	08/18/2025
	/s/ Hannah E. Dunn, as attorney-in-fact	08/18/2025
	/s/ Hannah E. Dunn, as attorney-in-fact	08/18/2025
	/s/ Hannah E. Dunn, as attorney-in-fact	08/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What stake do Farallon-affiliated funds report in Lantheus Holdings (LNTH)?

The Farallon Funds report holding 6,883,227 shares of LNTH common stock indirectly.

Why do the Farallon Funds now report ownership above 10% of LNTH?

The filing states the Farallon Funds exceed 10.0% of common stock solely because the number of shares outstanding was reduced to 67,994,149, not because any reporting person acquired additional shares.

Are the reported holdings direct or indirect?

The holdings are reported as indirect beneficial ownership, held by investment funds affiliated with Farallon.

Do the Farallon General Partners or Managing Members claim direct beneficial ownership?

The Farallon General Partners and Managing Members may be deemed beneficial owners due to investment discretion but expressly disclaim beneficial ownership except to the extent of any pecuniary interest.

Does this Form 3 report any derivative positions in LNTH?

No; the Form 3 reports only non-derivative common stock holdings and no derivative securities are listed.