Artelo Biosciences Launches $9.475M Private Placement to Build Solana (SOL) Digital Asset Reserve Strategy
Main Idea
Artelo Biosciences has completed a $9.475 million private placement to establish a digital asset reserve strategy focused on Solana (SOL), becoming the first pharmaceutical company to hold SOL as a reserve asset.
Key Points
1. Artelo Biosciences raised $9.475 million through an over-the-counter private placement, with warrants priced at $10.45 per share and prices set at $10.20 and $50.
2. The transaction is expected to be finalized by August 5, 2025.
3. Solana (SOL) was chosen for its high throughput, low transaction costs, scalability, and growing ecosystem.
4. This move marks the first time a pharmaceutical company has adopted a digital asset reserve strategy using SOL.
5. The strategy aims to leverage blockchain technology for asset diversification and digital innovation in the pharmaceutical industry.
Description
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