Solana treasury company Artelo Biosciences will raise $11 million through a private placement

Artelo Biosciences, a company listed on NASDAQ, announced the private sale of a total of 3,188,407 shares of common stock at a price of $3.45 per share, raising a total of $11 million. Additionally, the company disclosed that it will sell up to 6,376,814 warrants for common stock at a price of $3.20 per share. If the warrants are fully exercised in cash, the total funds raised will be approximately $20.4 million, with the transaction expected to be completed around March 30.

According to market news, the latest data from the Strategic Solana Reserve shows that Artelo currently holds 45,883 SOL.