Publicly Listed Company Artelo Launches Solana Reserve Asset Strategy

According to ChainCatcher, citing GlobeNewswire, clinical-stage pharmaceutical company Artelo Biosciences (NASDAQ: ARTL) has announced the completion of a $9.475 million private placement, which will be used to launch a digital asset reserve strategy centered on Solana (SOL). The company has become the first publicly listed pharmaceutical firm to include SOL as a reserve asset.

This private placement involves the issuance of common stock (or prepaid warrants) at a price of $10.45 per share, as well as two tranches of three-year warrants with exercise prices of $10.20 and $50, respectively. The transaction is expected to be completed by August 5, 2025.