Company: ARTL
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001640334-25-001624
Chunk: 20

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-09-04
Form: 424B5
Chunk 20
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 stockholders’ (deficit) equity                                                                                        |     | $                    |  (1,406 | ) |     | $                       | - |

The above discussion and table is based on 704,425 shares of our common stock outstanding as of June 30, 2025, and excludes as of that date:

| · | 128,976 shares of our common stock issuable upon the exercise of options or restricted stock awards granted under our 2018 Equity Incentive Plan (the “2018 Plan”), with a weighted-average exercise price of $11.02 per share; |
| · | 23,315 shares of our common stock issuable upon the exercise of warrants, with a weighted-average exercise price of $67.50 per share issued prior to June 2025;                                                                 |
| · | 123,255 shares of common stock issuable upon the voluntary conversion of convertible notes issued in our May 2025 private placement;                                                                                            |
| · | 246,511 shares of common stock issuable upon the automatic conversion of convertible notes issued in our May 2025 private placement to warrants to purchase common stock, with an exercise price of $1.04 per share;            |
| · | 136,843 shares of our common stock issued in our June 2025 private placement;                                                                                                                                                   |
| · | 93,180 shares of our common stock issuable upon the exercise of pre-funded warrants issued in our June 2025 private placement, with an exercise price of $0.001 per share;                                                      |
| · | 460,046 shares of our common stock issuable upon the exercise of warrants issued in our June 2025 private placement, with an exercise price of $5.82 per share;                                                                 |
| · | 230,023 shares of our common stock issuable upon the exercise of warrants issued in our June 2025 private placement, with a weighted-average exercise price of $10.00 per share; and                                            |
| · | 206,588 shares of our common stock reserved for future issuance under our 2018 Plan.                                                                                                                                            |

| S-12 |

<div align='center'>DILUTION</div>

If you invest in our common stock in this offering, your ownership interest will be diluted to the extent of the difference between the price per share of our common stock in this offering and the as adjusted net tangible book value per share of our common stock immediately after this offering.

As of June 30, 2025, our