11:33 AM EDT, 03/27/2026 (MT Newswires) -- Artelo Biosciences ( ARTL ) shares were up more than 300% in Friday trading after the company said it has signed definitive agreements to sell about $11 million worth of shares and warrants through a private placement.

The company said it will sell about 3.2 million common shares or pre-funded warrants, and warrants to buy up to roughly 6.4 million shares at a combined purchase price of $3.45 per share and accompanying warrants.

Artelo said that if the warrants are fully exercised, it will earn additional gross proceeds of about $20.4 million.

The private placement is expected to close on Monday and net proceeds will be used for working capital, general corporate purposes, and repaying debt, the company said.

Price: 12.79, Change: +9.60, Percent Change: +300.94