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[8-K] Artelo Biosciences, Inc. Reports Material Event

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Artelo Biosciences, Inc. amended its bylaws to change several shareholder governance provisions. The amendments modify the required notice period for Board special meetings, eliminate the right of stockholders to take action without a meeting, and state that the Company will be treated as an "issuing corporation" under Nevada statutes regardless of its number of record stockholders or whether it does business in Nevada.

The bylaws also set the record date for determining shareholders entitled to notice, to vote, or to receive dividends or distributions at not more than 60 days prior to the relevant action. These are procedural and corporate governance changes reflected in the filing.

Artelo Biosciences, Inc. ha modificato il proprio statuto per cambiare diverse disposizioni sulla governance degli azionisti. Le modifiche rideterminano il periodo di preavviso richiesto per le riunioni straordinarie del Consiglio, eliminano il diritto degli azionisti ad adottare provvedimenti senza convocazione di assemblea e stabiliscono che la Società sarà considerata una "issuing corporation" secondo le leggi del Nevada, indipendentemente dal numero di azionisti registrati o dal fatto che svolga attività nello Stato del Nevada.

Lo statuto fissa inoltre la data di riferimento per determinare gli azionisti aventi diritto a ricevere avviso, a votare o a percepire dividendi o distribuzioni a non oltre 60 giorni prima dell'azione pertinente. Si tratta di modifiche procedurali e di corporate governance riportate nella comunicazione.

Artelo Biosciences, Inc. enmendó sus estatutos para cambiar varias disposiciones de gobierno para los accionistas. Las enmiendas modifican el plazo de notificación requerido para las reuniones especiales de la Junta, eliminan el derecho de los accionistas a tomar medidas sin celebrar una reunión y establecen que la Compañía será tratada como una "issuing corporation" según las leyes de Nevada, independientemente de su número de accionistas registrados o de si realiza actividades en Nevada.

Los estatutos también fijan la fecha de registro para determinar a los accionistas con derecho a recibir aviso, a votar o a percibir dividendos o distribuciones en no más de 60 días antes de la acción correspondiente. Estas son modificaciones procedimentales y de gobierno corporativo reflejadas en la presentación.

Artelo Biosciences, Inc.는 주주 거버넌스 관련 여러 조항을 변경하기 위해 정관을 개정했습니다. 개정안은 이사회의 특별 회의에 대한 통지 기간을 변경하고, 주주가 회의 없이 조치를 취할 권리를 삭제하며, 회사가 기록된 주주 수나 네바다주에서 영업하는지 여부와 관계없이 네바다 법률상 "issuing corporation"으로 취급된다고 명시합니다.

정관은 또한 통지 받거나 의결권이 있거나 배당금 또는 분배금을 받을 권리가 있는 주주를 결정하는 기준일을 관련 행위일로부터 60일을 초과하지 않는 날짜로 정합니다. 이는 제출서류에 반영된 절차적 및 기업 거버넌스 변경사항입니다.

Artelo Biosciences, Inc. a modifié ses statuts pour changer plusieurs dispositions relatives à la gouvernance des actionnaires. Les amendements modifient le délai de préavis requis pour les réunions extraordinaires du conseil d'administration, suppriment le droit des actionnaires d'agir sans réunion, et précisent que la Société sera considérée comme une « issuing corporation » en vertu des lois du Nevada, quel que soit le nombre d'actionnaires inscrits ou si elle exerce des activités dans le Nevada.

Les statuts fixent également la date de référence pour déterminer les actionnaires ayant droit à l'avis, au vote ou à la perception de dividendes ou distributions à au plus 60 jours avant l'action concernée. Il s'agit de changements procéduraux et de gouvernance d'entreprise reflétés dans le dépôt.

Artelo Biosciences, Inc. hat seine Satzung geändert, um mehrere Bestimmungen zur Aktionärsführung anzupassen. Die Änderungen verändern die erforderliche Frist für Sonderversammlungen des Vorstands, schaffen das Recht der Aktionäre ab, ohne Versammlung Maßnahmen zu ergreifen, und legen fest, dass das Unternehmen nach den Vorschriften Nevadas als "issuing corporation" behandelt wird, unabhängig von der Anzahl der eingetragenen Aktionäre oder davon, ob es in Nevada tätig ist.

Die Satzung legt außerdem den Stichtag zur Feststellung der Aktionäre, die Anspruch auf Benachrichtigung, Stimmrecht oder den Erhalt von Dividenden oder Ausschüttungen haben, auf maximal 60 Tage vor der entsprechenden Maßnahme fest. Dies sind verfahrensbezogene und Corporate-Governance-Änderungen, die in der Einreichung dargestellt werden.

Positive
  • Clarifies corporate procedure by setting a clear maximum 60-day record date for notice, voting and distributions
  • Formalizes statutory status by designating the company an "issuing corporation" under Nevada law regardless of shareholder counts, reducing ambiguity
Negative
  • Eliminates shareholder written action without a meeting, removing a mechanism for shareholders to act by written consent
  • Potentially limits shareholder flexibility by imposing formal meeting requirements and updated notice procedures

Insights

TL;DR: Bylaw amendments centralize control over shareholder processes and formalize Nevada statutory treatment.

The amendments remove the ability for shareholders to act without a meeting, which reduces an avenue for written consents and concentrates decision-making in convened meetings. Declaring the company an "issuing corporation" under NRS provisions irrespective of shareholder counts clarifies statutory treatment and could affect notice, proxy and solicitation procedures. Setting a record date cap of 60 days aligns timing for dividends, distributions and voting, providing administrative predictability.

TL;DR: Procedural bylaw changes are material to governance but appear administrative rather than financial.

Updating notice periods for Board special meetings and formalizing record date limits are administrative changes that affect governance logistics. The explicit elimination of action without a meeting is a substantive change to shareholder rights under the bylaws. These changes may require shareholders and advisors to adjust corporate governance practices and timelines but the filing does not disclose financial impacts or transactions.

Artelo Biosciences, Inc. ha modificato il proprio statuto per cambiare diverse disposizioni sulla governance degli azionisti. Le modifiche rideterminano il periodo di preavviso richiesto per le riunioni straordinarie del Consiglio, eliminano il diritto degli azionisti ad adottare provvedimenti senza convocazione di assemblea e stabiliscono che la Società sarà considerata una "issuing corporation" secondo le leggi del Nevada, indipendentemente dal numero di azionisti registrati o dal fatto che svolga attività nello Stato del Nevada.

Lo statuto fissa inoltre la data di riferimento per determinare gli azionisti aventi diritto a ricevere avviso, a votare o a percepire dividendi o distribuzioni a non oltre 60 giorni prima dell'azione pertinente. Si tratta di modifiche procedurali e di corporate governance riportate nella comunicazione.

Artelo Biosciences, Inc. enmendó sus estatutos para cambiar varias disposiciones de gobierno para los accionistas. Las enmiendas modifican el plazo de notificación requerido para las reuniones especiales de la Junta, eliminan el derecho de los accionistas a tomar medidas sin celebrar una reunión y establecen que la Compañía será tratada como una "issuing corporation" según las leyes de Nevada, independientemente de su número de accionistas registrados o de si realiza actividades en Nevada.

Los estatutos también fijan la fecha de registro para determinar a los accionistas con derecho a recibir aviso, a votar o a percibir dividendos o distribuciones en no más de 60 días antes de la acción correspondiente. Estas son modificaciones procedimentales y de gobierno corporativo reflejadas en la presentación.

Artelo Biosciences, Inc.는 주주 거버넌스 관련 여러 조항을 변경하기 위해 정관을 개정했습니다. 개정안은 이사회의 특별 회의에 대한 통지 기간을 변경하고, 주주가 회의 없이 조치를 취할 권리를 삭제하며, 회사가 기록된 주주 수나 네바다주에서 영업하는지 여부와 관계없이 네바다 법률상 "issuing corporation"으로 취급된다고 명시합니다.

정관은 또한 통지 받거나 의결권이 있거나 배당금 또는 분배금을 받을 권리가 있는 주주를 결정하는 기준일을 관련 행위일로부터 60일을 초과하지 않는 날짜로 정합니다. 이는 제출서류에 반영된 절차적 및 기업 거버넌스 변경사항입니다.

Artelo Biosciences, Inc. a modifié ses statuts pour changer plusieurs dispositions relatives à la gouvernance des actionnaires. Les amendements modifient le délai de préavis requis pour les réunions extraordinaires du conseil d'administration, suppriment le droit des actionnaires d'agir sans réunion, et précisent que la Société sera considérée comme une « issuing corporation » en vertu des lois du Nevada, quel que soit le nombre d'actionnaires inscrits ou si elle exerce des activités dans le Nevada.

Les statuts fixent également la date de référence pour déterminer les actionnaires ayant droit à l'avis, au vote ou à la perception de dividendes ou distributions à au plus 60 jours avant l'action concernée. Il s'agit de changements procéduraux et de gouvernance d'entreprise reflétés dans le dépôt.

Artelo Biosciences, Inc. hat seine Satzung geändert, um mehrere Bestimmungen zur Aktionärsführung anzupassen. Die Änderungen verändern die erforderliche Frist für Sonderversammlungen des Vorstands, schaffen das Recht der Aktionäre ab, ohne Versammlung Maßnahmen zu ergreifen, und legen fest, dass das Unternehmen nach den Vorschriften Nevadas als "issuing corporation" behandelt wird, unabhängig von der Anzahl der eingetragenen Aktionäre oder davon, ob es in Nevada tätig ist.

Die Satzung legt außerdem den Stichtag zur Feststellung der Aktionäre, die Anspruch auf Benachrichtigung, Stimmrecht oder den Erhalt von Dividenden oder Ausschüttungen haben, auf maximal 60 Tage vor der entsprechenden Maßnahme fest. Dies sind verfahrensbezogene und Corporate-Governance-Änderungen, die in der Einreichung dargestellt werden.

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) September 9 2025

 

ARTELO BIOSCIENCES, INC.

(Exact name of registrant as specified in its charter)

 

Nevada

 

001-38951

 

33-1220924

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

505 Lomas Santa Fe, Suite 160

Solana Beach, CA USA

 

92075 

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code (858) 925-7049

 

___________________________________________

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Common Stock, par value $0.001 per share

 

ARTL

 

The Nasdaq Stock Market, LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

 

On September 9, 2025, the board of directors (the “Board”) of Artelo Biosciences, Inc. (the “Company”) amended the Company’s amended and restated bylaws, as provided in a Certificate of Amendment to Bylaws (the “Bylaws Amendment”), as follows:

 

 

·

The required notice period for special meetings of the Board has been updated, as provided in the Bylaws Amendment;

 

 

 

 

·

The right of stockholders to take action without a meeting has been eliminated;

 

 

 

 

·

The Bylaws have been updated to provide that the Company shall in all respects be considered an “issuing corporation” for purposes of the provisions of NRS 78.378 to 78.3793 inclusive, irrespective of whether the Company, as of any date, (i) has 200 or more stockholders of record, at least 100 of whom have had addresses in Nevada appearing on the stock ledger of the Company at all times during the 90 days immediately preceding such date, and/or (ii) does business in Nevada directly or through an affiliated corporation; and

 

 

 

 

·

The Bylaws have been updated to provide that the record date for determining shareholders entitled (i) to notice of or to vote at any shareholders' meeting or adjournment thereof, (ii) to receive payment of any share dividend, or (iii) to receive payment of any distribution shall be not more than 60 days prior to the date on which the particular action requiring determination of shareholders is to be taken.

 

The Bylaws Amendment is filed as Exhibit 3.1 hereto and is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits.

 

Exhibit No.

 

Exhibit

3.1

 

Certificate of Amendment to Bylaws

104

 

Cover Page Interactive Data File (embedded within the XBRL document)

 

 

2

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

    

 

 

ARTELO BIOSCIENCES, INC.

 

 

 

 

 

Date: September 10, 2025

 

/s/ Gregory D. Gorgas

 

 

 

Gregory D. Gorgas

 

 

 

President & Chief Executive Officer

 

                                                                                                            

 

3

 

FAQ

What governance changes did Artelo Biosciences (ARTL) make in this 8-K?

The company amended its bylaws to update the notice period for Board special meetings, remove the right of stockholders to take action without a meeting, declare it an "issuing corporation" under Nevada law, and set a record date cap of 60 days.

Does the filing change shareholder rights for written consents at ARTL?

Yes. The bylaws eliminate the right of stockholders to take action without a meeting, which ends the option to act by written consent under the bylaws.

What does the 60-day record date provision mean for ARTL shareholders?

The bylaws provide that the record date for notice, voting, dividends, or distributions will be not more than 60 days prior to the action, setting a maximum timeframe for determining eligible shareholders.

How does the "issuing corporation" designation affect ARTL?

The bylaws state the company shall be considered an "issuing corporation" under Nevada statutes irrespective of whether it meets numeric or business-in-Nevada thresholds, clarifying its treatment under those statutory provisions.
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