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Artelo Biosciences Plans $11 Million Private Share Placement

Artelo Biosciences, a Nasdaq-listed Solana treasury company, said it has priced a private placement of 3,188,407 common shares at $3.45 each, for gross proceeds of $11 million, according to Globenewswire. The company also plans to issue warrants to buy up to 6,376,814 additional common shares with an exercise price of $3.20 per share. If all warrants are exercised for cash, total gross proceeds would be about $20.4 million. The deal is expected to close around March 30. Data from StrategicSolanaReserve show Artelo currently holds 45,883 SOL.
SOL
SOL-4.12%
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