other material
confidence high
sentiment neutral
materiality 0.65
Artelo Biosciences enters $20M common stock purchase agreement with Lincoln Park Capital
ARTELO BIOSCIENCES, INC.
- Company may sell up to $20M of common stock over 36 months at discounts of 3-5% to market price.
- Lincoln Park received 292,968 commitment shares as consideration for entering the agreement.
- Proceeds from any sales will be used for working capital and general corporate purposes; company has no obligation to sell.
- Regular purchases limited to 200,000 shares per day, increased if stock price exceeds $0.50 or $0.75, max $1M per purchase.
- Accelerated purchases allowed at 95% of closing or VWAP, with additional accelerated purchases possible on same day.