Artelo Biosciences raises $11 million in private placement

Artelo Biosciences, Inc. (NASDAQ: ARTL) entered into agreements for a private placement expected to generate gross proceeds of approximately $11.0 million. The clinical-stage pharmaceutical company will sell 3,188,407 shares of common stock and warrants to purchase up to 6,376,814 additional shares at a combined price of $3.45 per share.

The warrants carry an exercise price of $3.20 per share and will expire five and one-half years from the effectiveness date of a planned resale registration statement. If fully exercised, the warrants could generate an additional $20.4 million in gross proceeds for the company.

H.C. Wainwright & Co. serves as the exclusive placement agent for the offering, which is expected to close on or about March 30, 2026, subject to customary closing conditions.

The company plans to use net proceeds for working capital, general corporate purposes, and repayment of certain bridge debt. The securities are being offered under Section 4(a)(2) of the Securities Act of 1933 and have not been registered under federal securities laws.

Artelo Biosciences develops therapeutics that modulate lipid-signaling pathways for conditions including anorexia, cancer, anxiety, dermatologic conditions, pain, inflammation, and eye diseases. The company is based in Solana Beach, California.

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