Artelo Biosciences, a Solana treasury company, has raised $11 million through a rights offering.

Solana Treasury Firm Artelo Biosciences Raises $11M in Private Placement

Nasdaq-listed Artelo Biosciences is tapping the market for fresh capital. The Solana treasury company announced a private placement on March 28th.

The deal includes selling 3,188,407 common shares at $3.45 each, which brings in about $11 million. On top of that, the firm is offering warrants for up to 6,376,814 shares at $3.20 each. If all those warrants are exercised for cash, the total haul would hit roughly $20.4 million. The transaction is expected to close around March 30th. According to StrategicSolanaReserve, Artelo currently holds 45,883 SOL.