Artelo Biosciences Announces 1-for-9 Reverse Stock Split
(RTTNews) - Artelo Biosciences, Inc. (ARTL), a clinical-stage pharmaceutical company focused on lipid-signaling pathways, announced Thursday a 1-for-9 reverse stock split of its common stock.
The company shares are expected to begin trading on a split-adjusted basis on the Nasdaq Capital Market at market open on August 31, 2026.
Under the reverse split, every nine shares of Artelo's issued and outstanding common stock will be automatically combined into one share. The company said the action is intended to increase the price per share and improve the marketability and liquidity of its common stock.
No fractional shares will be issued. Instead, stockholders with any fractional entitlements resulting from the reverse split will receive one whole share. The reverse split will not change shareholder's proportional ownership, and no action is required.
Artelo's outstanding warrants and other derivatives will automatically be adjusted in accordance with their respective terms to reflect the reverse split.
Following the split, approximately 547,774 shares of common stock are expected to be issued and outstanding. The company's common stock will trade under a new CUSIP number, 04301G805, beginning August 31.
ARTL is trading down 2.87% at $0.69.
