ARTL ends $6.5M ATM program, offering terminated

ARTL terminates its At-The-Market equity offering agreement effective May 18, 2026.

Rhea-AI Filing Summary

ARTL terminates its At-The-Market equity offering agreement effective May 18, 2026. The company had an ATM capacity of $6,500,000 and reports aggregate sales of 50,858 shares for gross proceeds of $451,526.95. The prospectus supplement ends the continuous offering under the ATM Prospectus.

The Sales Agreement with R.F. Lafferty & Co., Inc. was terminated by notice on May 11, 2026, effective May 18, 2026. The Common Stock trades on Nasdaq under the symbol ARTL; the last reported sales price on May 15, 2026 was $1.84.

Insights

Capital Markets Counsel

ATM program closed after limited sales; timing and proceeds are straightforward.

The company terminated its At-The-Market Sales Agreement with R.F. Lafferty & Co., Inc., effective May 18, 2026, as stated. The ATM had an aggregate capacity of $6,500,000 and sold 50,858 shares for $451,526.95.

Future fundraising mechanics are not disclosed in this excerpt; subsequent filings would show whether alternative capital-raising methods are planned. Cash‑flow treatment for future sales is not described in the provided text.

Key Figures

ATM capacity: $6,500,000 Shares sold under ATM: 50,858 shares Gross proceeds from ATM sales: $451,526.95 +2 more

5 metrics

ATM capacity $6,500,000 aggregate offering price under Sales Agreement

Shares sold under ATM 50,858 shares aggregate sold pursuant to the Sales Agreement

Gross proceeds from ATM sales $451,526.95 total gross proceeds to date from ATM sales

Last reported Nasdaq price $1.84 last reported sales price as of May 15, 2026

Termination effective date May 18, 2026 effective date of Sales Agreement termination

Key Terms

At-The-Market, Sales Agreement, prospectus supplement

3 terms

At-The-Market financial

"offer and sale of shares of our common stock pursuant to the At-The-Market Offering Agreement"

"At-the-market" is a method for companies to sell new shares of stock directly into the open market over time, rather than all at once. It allows companies to raise money gradually, similar to selling slices of a pie instead of the entire pie at once, which can help manage the sale's impact on the stock price. This approach gives investors a steady supply of shares while providing companies with flexible funding options.

Sales Agreement regulatory

"At-The-Market Offering Agreement, dated July 18, 2025 (the “Sales Agreement”)"

A sales agreement is a written contract that sets out the terms for selling goods, services, or assets, specifying price, delivery, payment schedule and responsibilities of each side. For investors it matters because it creates a predictable stream of revenue or cash obligations, clarifies timing and risk, and can change a company’s value or forecasts much like a signed order turns a customer’s verbal intent into a firm commitment.

prospectus supplement regulatory

"This prospectus supplement amends and supplements the information in the prospectus supplement"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

Offering Details

ATM

Offering

Offering Type ATM

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did ARTL file in this prospectus supplement?

This supplement reports termination of ARTL's At-The-Market Sales Agreement, effective May 18, 2026, and ends the continuous offering under the ATM Prospectus.

How large was the ATM program for ARTL?

The ATM permitted sales of up to $6,500,000 in common stock under the Sales Agreement dated July 18, 2025, as stated in the supplement.

How many shares were sold under the Sales Agreement?

ARTL sold an aggregate of 50,858 shares pursuant to the Sales Agreement, producing gross proceeds of $451,526.95 as reported.

When did ARTL notify the sales agent of termination?

ARTL provided notice to R.F. Lafferty on May 11, 2026, and the termination became effective on May 18, 2026, per the prospectus supplement.

What was ARTL's last reported Nasdaq price in the filing?

The supplement states the last reported sales price on Nasdaq was $1.84 as of May 15, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/18/2026 - 04:30 PM Learn about SEC filing dates

Filed Pursuant to Rule 424(b)(5)

Registration No. 333-273153

PROSPECTUS SUPPLEMENT

(To Prospectus Supplements dated July 18, 2025, September 4, 2025, and September 30, 2025 to Prospectus dated July 14, 2023)

This prospectus supplement amends and supplements the information in the prospectus supplement, dated July 18, 2025, as supplemented by prospectus supplements dated September 4, 2025 and September 30, 2025 (as so supplemented, the “ATM Prospectus”), relating to the offer and sale of shares of our common stock, $0.001 par value per share (“Common Stock”), pursuant to the At-The-Market Offering Agreement, dated July 18, 2025 (the “Sales Agreement”), between us and R.F. Lafferty & Co., Inc., as exclusive sales agent (“R.F. Lafferty”). This prospectus supplement should be read in conjunction with the ATM Prospectus and the base prospectus, dated July 14, 2023 (the “Base Prospectus”), and is qualified by reference thereto, except to the extent that the information herein amends or supersedes the information contained in the ATM Prospectus or the Base Prospectus. This prospectus supplement is not complete without and may only be delivered or utilized in connection with the ATM Prospectus and the Base Prospectus and any future amendments or supplements thereto.

On May 11, 2026, we provided notice to R.F. Lafferty of our election to terminate the Sales Agreement, which termination is effective on May 18, 2026, in accordance with the terms of the Sales Agreement. Pursuant to the Sales Agreement, we were entitled to offer and sell, from time to time through R.F. Lafferty, shares of Common Stock, having an aggregate offering price of up to $6,500,000 in an at-the-market equity offering program. As of the date of the filing of this prospectus supplement, we have sold an aggregate of 50,858 shares of Common Stock pursuant to the Sales Agreement, resulting in gross proceeds of $451,526.95.

The purpose of this prospectus supplement is to report the termination of the Sales Agreement and to terminate the continuous offering by us under the ATM Prospectus effective May 18, 2026.

The Common Stock is listed on The Nasdaq Capital Market tier of The Nasdaq Stock Market LLC (“Nasdaq”) under the symbol “ARTL.” As of May 15, 2026, the last reported sales price of the Common Stock on Nasdaq was $1.84.

Investing in our Common Stock involves a high degree of risk and uncertainty. See “Risk Factors” beginning on page S-9 of the ATM Prospectus and the other documents that are incorporated by reference in the ATM Prospectus and the accompanying Base Prospectus.

NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ADEQUACY OR ACCURACY OF THIS PROSPECTUS SUPPLEMENT, THE PRIOR PROSPECTUS SUPPLEMENTS OR THE ACCOMPANYING PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

The date of this prospectus supplement is May 18, 2026.