Company: ARTL
Filing Date: 2025-11-17
Form Type: S-1
Source: 0001640334-25-002154
Chunk: 12

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-11-17
Form: S-1
Chunk 12
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, was due and payable on October 28, 2025 (the “May 2025 Notes’ Maturity Date”). On the May 2025 Notes’ Maturity Date, the Selling Securityholder had the right (at the Selling Securityholder’s sole option) to convert all of that certain unpaid portions of principal and accrued interest of the Selling Securityholder’s May 2025 Note into shares of Common Stock (the “Voluntary Conversion”), as provided in the May 2025 Notes. Should the Selling Securityholder not elect Voluntary Conversion, such portion of the unpaid principal balance and any accrued interest of each May 2025 Note subject to Voluntary Conversion would be immediately due and payable in cash. No Selling Securityholder elected their right to Voluntary Conversion. Further, each Selling Securityholder entered into the October 2025 Subscription Agreement (as defined below) pursuant to which they agreed to convert all or a portion of the unconverted “Voluntary Conversion” portion of unpaid principal balance and accrued interest due to the Selling Securityholders upon the maturity of the May 2025 Notes into the Notes.  On the May 2025 Notes’ Maturity Date, that portion of the unpaid principal balance and any accrued interest of each Note not subject to the Voluntary Conversion was automatically converted into the $6.24 Warrants.  Each $6.24 Warrant shall be immediately exercisable after issuance for five (5) years. Each $6.24 Warrant will be exercisable by payment of the exercise price in cash or on a cashless basis if at the time of exercise there is no effective resale registration statement and will contain customary anti-dilution provisions (in the case of stock splits, dividends, recapitalizations, mergers and similar transactions). A holder of a $6.24 Warrant may not exercise any such $6.24 Warrant to the extent that such conversion or exercise would result in the number of shares of Common Stock beneficially owned by such holder and its affiliates exceeding 9.9% of the total number of shares of Common Stock outstanding immediately after giving effect to the conversion or exercise, which percentage may be increased or decreased at the holder’s election not to exceed 19.9%. Pursuant to the May 2025 Subscription Agreement, we agreed (i) to file a registration statement (the “May 2025 Registration Statement”) with the SEC under the Securities Act of 1933, as amended (the “Securities Act”) on or before the 45th