ChainCatcher news, reported by GlobeNewswire, clinical-stage pharmaceutical company Artelo Biosciences (NASDAQ: ARTL) announced the completion of a $9.475 million private placement financing, which will be used to launch a digital asset reserve strategy centered around Solana (SOL). The company becomes the first publicly traded pharmaceutical firm to include SOL in its reserve assets.

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 batches of warrants with exercise prices of $10.20 and $50, respectively, for a term of three years. The transaction is expected to be completed by August 5, 2025.