ChainCatcher report: Nasdaq-listed Solana treasury company Artelo Biosciences announced it is selling a total of 3,188,407 shares of common stock at $3.45 per share through a private placement, raising a total of $11 million. The company also disclosed that it will issue warrants to purchase up to 6,376,814 shares of common stock at $3.20 per share; if all warrants are exercised in cash, the total proceeds will be approximately $20.4 million. The transaction is expected to close around March 30. According to market data, Strategic Solana Reserve’s latest figures show that Artelo currently holds 45,883 SOL.
Solana Treasury Firm Artelo Biosciences to Raise $11M Through Share Placement
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Summary
Artelo Biosciences, a Solana treasury firm and altcoin to watch, announced a $11 million fundraising through a private placement of 3,188,407 shares at $3.45 per share. The company also plans to issue up to 6,376,814 share warrants at $3.20 per share, potentially raising an additional $20.4 million. The transaction is scheduled to close by March 30. Strategic Solana Reserve data shows Artelo holds 45,883 SOL. Transaction volume on Solana remains a key metric for tracking market activity.
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