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Solana Treasury Firm Artelo Biosciences Plans $11M Private Placement

Artelo Biosciences, a Nasdaq-listed company positioned as a Solana treasury vehicle, said it will raise $11 million through a private placement of 3,188,407 common shares priced at $3.45 each. The company also plans to issue warrants covering up to 6,376,814 additional common shares with an exercise price of $3.20. If all warrants are exercised for cash, gross proceeds would total about $20.4 million. The deal is expected to close around March 30. Market data from Strategic Solana Reserve show Artelo currently holds 45,883 SOL.
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SOL-2.74%
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