NASDAQ listed pharmaceutical company Artelo launches Solana reserve asset strategy

According to Foresight News, Artelo Biosciences (NASDAQ: ARTL), a clinical stage pharmaceutical company, announced the completion of $9.475 million in off exchange private equity financing, which will be used to launch a digital asset reserve strategy centered around Solana (SOL). The company became the first listed pharmaceutical company to include SOL as a reserve asset. This private placement includes the issuance of common stock (or prepaid warrants) at a price of $10.45 per share, as well as two batches of three-year warrants with exercise prices of $10.20 and $50, respectively. The transaction is expected to be completed on August 5, 2025.