Solana treasury company ArteloBiosciences will issue rights to raise $11 million

Nasdaq-listed Solana treasury firm ArteloBiosciences announced the private placement of a total of 3,188,407 common shares at $3.45 per share, raising a total of $11 million. In addition, the company also disclosed that it will sell warrants for up to 6,376,814 common shares at a price of US$3.2 per share. If the warrants are all exercised in cash, the final total raised capital will be approximately US$20.4 million. The transaction is expected to be completed around March 30. According to market news, the latest data from StrategicSolanaReserve shows that Artelo currently holds 45,883 SOLs.