Artelo Biosciences Announces Pricing of $3.0 Million Public Offering

Core Viewpoint - Artelo Biosciences, Inc. has announced a public offering of common stock and pre-funded warrants, aiming to raise approximately $3.0 million to support its clinical-stage pharmaceutical initiatives focused on treating various medical conditions [1][6]. Group 1: Offering Details - The company is offering 640,924 shares of common stock at a price of $4.40 per share and pre-funded warrants to purchase up to 40,894 shares at a price of $4.399 per warrant [1]. - The total gross proceeds from the offering are expected to be around $3.0 million before deducting underwriting discounts and other expenses [1]. - Underwriters have a 45-day option to purchase an additional 102,272 shares to cover over-allotments [1]. Group 2: Underwriting and Registration - R.F. Lafferty & Co., Inc. is acting as the sole book-running manager for the offering [2]. - The shares and warrants are being offered under a "shelf" registration statement filed with the SEC, which was declared effective on July 14, 2023 [2]. Group 3: Company Overview - Artelo Biosciences is a clinical-stage pharmaceutical company focused on developing treatments that modulate lipid-signaling pathways for conditions such as cancer, pain, and dermatologic issues [6]. - The company is also implementing a digital asset treasury strategy to enhance its financial position [6].