Artelo Biosciences ends $6.5M ATM program
Artelo Biosciences, Inc. has elected to terminate its At-The-Market Offering Agreement with R.F.
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Form Type
8-K
Rhea-AI Filing Summary
Artelo Biosciences, Inc. has elected to terminate its At-The-Market Offering Agreement with R.F. Lafferty & Co., Inc., a program that allowed the company to sell common stock over time. The termination notice was given on May 11, 2026 and becomes effective on May 18, 2026.
Under the agreement, Artelo could offer up to $6,500,000 of common stock in an at-the-market equity program. Through May 11, 2026, it sold 50,858 shares of common stock, generating $451,526.95 in gross proceeds before ending the arrangement.
8-K Event Classification
Item 1.02 — Termination of a Material Definitive Agreement
1 item
Item 1.02
Termination of a Material Definitive Agreement
Business
A significant contract was terminated, which may affect business operations or revenue.
Key Figures
ATM program capacity: $6,500,000
Shares sold under ATM: 50,858 shares
Gross proceeds from ATM: $451,526.95
+2 more
5 metrics
ATM program capacity
$6,500,000
Maximum aggregate offering price under At-The-Market Offering Agreement
Shares sold under ATM
50,858 shares
Common stock sold through May 11, 2026 under the Sales Agreement
Gross proceeds from ATM
$451,526.95
Total gross proceeds from ATM sales through May 11, 2026
Termination notice date
May 11, 2026
Date Artelo elected to terminate the Sales Agreement
Effective termination date
May 18, 2026
Date termination of At-The-Market Offering Agreement becomes effective
Key Terms
At-The-Market Offering Agreement, at-the-market equity offering program, Material Definitive Agreement, gross proceeds
4 terms
At-The-Market Offering Agreement financial
"Artelo Biosciences provided notice of its election to terminate that certain At-The-Market Offering Agreement"
An at-the-market offering agreement lets a public company sell newly issued shares into the open market over time at the current trading price through an appointed broker, rather than all at once. Investors care because it provides the company flexible access to cash but can slowly reduce each existing shareholder’s ownership and put downward pressure on the stock price—like a shop owner quietly adding items for sale to a crowded shelf.
at-the-market equity offering program financial
"having an aggregate offering price of up to $6,500,000 in an at-the-market equity offering program"
A program that lets a company sell newly issued shares directly into the open market at whatever the current trading price is, usually through a broker, and do so gradually over time instead of all at once. Investors care because it can dilute existing ownership and put steady selling pressure on the stock price, while giving the company a flexible, on-demand way to raise cash — like adding small amounts of water to a pool rather than dumping in a bucket.
Material Definitive Agreement regulatory
"Item 1.02 Termination of a Material Definitive Agreement"
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
gross proceeds financial
"the Company had sold an aggregate of 50,858 shares of Common Stock pursuant to the Sales Agreement, resulting in gross proceeds of $451,526.95"
The total amount of cash a company receives from a financing event or sale before any fees, expenses, taxes or deductions are taken out. Investors watch gross proceeds because it shows the raw scale of new capital being raised—think of it as the paycheck amount before withholdings—which helps assess how much funding is available for operations, growth, debt payoff or how much shareholder dilution might occur once costs are removed.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Artelo Biosciences (ARTL) announce in this 8-K filing?
Artelo Biosciences announced that it is terminating its At-The-Market Offering Agreement with R.F. Lafferty. The program allowed periodic common stock sales and will end effective May 18, 2026, in accordance with the agreement’s terms.
How large was Artelo Biosciences’ at-the-market stock offering program?
The at-the-market program allowed Artelo Biosciences to offer and sell common stock with an aggregate offering price of up to $6,500,000. This capacity represented the maximum amount the company could have raised through periodic market sales under the agreement.
How much stock did Artelo Biosciences (ARTL) sell under the ATM agreement?
Through May 11, 2026, Artelo Biosciences sold 50,858 shares of its common stock under the At-The-Market Offering Agreement. These sales generated gross proceeds of $451,526.95 before expenses, well below the program’s $6,500,000 maximum capacity.
When does the termination of Artelo’s ATM agreement become effective?
The termination of Artelo Biosciences’ At-The-Market Offering Agreement becomes effective on May 18, 2026. The company provided notice of its election to terminate the agreement to R.F. Lafferty on May 11, 2026, following the terms of the contract.
Who was Artelo Biosciences’ sales agent for the at-the-market program?
R.F. Lafferty & Co., Inc. served as the sales agent for Artelo Biosciences’ at-the-market equity offering program. Under the agreement, R.F. Lafferty facilitated the company’s periodic sales of common stock into the market up to the authorized dollar limit.
What were the gross proceeds Artelo Biosciences raised from the ATM?
Artelo Biosciences raised gross proceeds of $451,526.95 from selling 50,858 shares of common stock under the At-The-Market Offering Agreement. These proceeds reflect total pre-expense inflows from the program before Artelo elected to terminate the arrangement.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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