TechFlow, August 4 — Clinical-stage pharmaceutical company Artelo Biosciences (Nasdaq: ARTL) announced the completion of a $9.475 million private placement through an off-exchange offering, proceeds of which will be used to launch a digital asset reserve strategy centered on Solana (SOL). The company becomes the first publicly traded pharmaceutical firm to include SOL as part of its reserve assets.
The private placement included the issuance of common stock (or pre-funded warrants) at $10.45 per share, along with two tranches of three-year warrants with exercise prices of $10.20 and $50, respectively. The transaction is expected to close on August 5, 2025.
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