Company: ARTL
Filing Date: 2025-09-30
Form Type: 424B5
Source: 0001640334-25-001749
Chunk: 13

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-09-30
Form: 424B5
Chunk 13
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 2023. As of September 30, 2025, 50,858 shares of common stock have been sold under the ATM for net proceeds of $451,526.95. On September 30, 2025, we filed a prospectus supplement to the July 18, 2025 prospectus supplement to reduce the maximum aggregate gross sales price to $451,526.95 being the amount that we have already sold under the Sales Agreement.  Accordingly, we will not be able to make further sales under the Sales Agreement unless we further supplement such July 18, 2025 prospectus supplement to increase the availability thereunder subject to the limitations set forth in Instruction I.B.6 to Form S-3 (i.e., the “baby shelf” limitations).   On August 1, 2025, we entered into a securities purchase agreement (the “Purchase Agreement”) for an at-the market PIPE (private investment in public equity) for the purchase and sale of securities at a price of $10.45 per security, consisting of: (a) 906,687 shares of common stock (or pre-funded warrants in lieu thereof); (b) three-year warrants to purchase 906,687 shares of common stock at an exercise price of $10.20 per share; and (c) three-year warrants to purchase 906,687 shares of common stock at an exercise price of $50.00 per share, for expected aggregate gross proceeds of approximately $9.475 million. We agreed that the net proceeds of the sale would be used to purchase Solana. However, on August 19, 2025, we entered into a Termination and Mutual Release Agreement (the “Purchase Termination Agreement”), which terminates in its entirety, effective as of the August 19, 2025, the Purchase Agreement, the three-year warrants, and any other certificates, agreements, or instruments executed in connection therewith. Concurrently with execution of the Purchase Termination Agreement, the Company paid $50,000 to TingleMerrett LLP, counsel to the investors, for legal fees incurred by the investors in connection with the transaction.   On August 1, 2025, we entered into a Consulting Agreement (the “Consulting Agreement”) with ABK Labs, Inc., a Delaware corporation (“ABK Labs”), pursuant to which ABK Labs will provide strategic advisory services to the Company related to the development, implementation, and communication of the Company’s digital asset strategy, as well as business development,