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US Pharma Company Artelo Announces Launch of Solana Reserve Asset Strategy
BlockBeats News, August 4th, Pharmaceutical company Artelo Biosciences (Nasdaq: ARTL) announced the completion of a $9.475 million off-market private placement, which will be used to launch a Solana (SOL)-centered digital asset reserve strategy, making it the first publicly traded pharmaceutical company to include SOL as a reserve asset.
This private placement includes the issuance of common stock (or pre-funded warrants) at a price of $10.45 per share, as well as two tranches of warrants with exercise prices of $10.20 and $50, respectively, with a three-year term. The transaction is expected to be completed on August 5, 2025.
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