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Pharmaceutical company Artelo completes a $9.475 million private sale, incorporating Solana into its reserve assets.
On August 4, pharmaceutical company Artelo Biosciences (NASDAQ: ARTL) announced the completion of a $9.475 million private sale financing, which will be used to initiate a digital asset reserve strategy centered around Solana (SOL), becoming the first publicly traded pharmaceutical company to include SOL in its reserve assets.
The private sale includes the issuance of common stock (or pre-paid 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.