AG˹ٷ

STOCK TITAN

[Form 4] Artelo Biosciences, Inc. Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation (NRUC) has filed a preliminary pricing supplement for new subordinated deferrable interest notes (CUSIP 63743LAY9).

  • Coupon: 5.750% fixed, paid semi-annually; first payment on 01/15/2026 ($28.43 per $1,000).
  • Maturity: 07/15/2055 (30-year tenor).
  • Redemption: Callable at the issuer’s option at par plus accrued interest on or after 07/15/2030 (Par Call Period).
  • Offering terms: Sold at 100% of face value with a 3.150% selling concession; minimum denomination $1,000; book-entry through DTC; trade date 07/14/2025, settlement 07/17/2025.
  • Investor protections: Survivor’s option permits heirs to put the notes back to the issuer at par.
  • Ranking: Subordinated notes, junior to senior debt and senior to equity.

Net proceeds (undisclosed amount) will increase NRUC’s long-term, fixed-rate debt, locking in funding costs but adding interest expense. No financial statements or aggregate issuance size are included in this filing.

National Rural Utilities Cooperative Finance Corporation (NRUC) ha presentato un supplemento preliminare per la quotazione di nuove obbligazioni subordinate a interesse differibile (CUSIP 63743LAY9).

  • Coupon: 5,750% fisso, pagato semestralmente; primo pagamento il 15/01/2026 ($28,43 per $1.000).
  • Scadenza: 15/07/2055 (durata di 30 anni).
  • Rimborso: Rimborsabile a scelta dell’emittente a valore nominale più interessi maturati a partire dal 15/07/2030 (Periodo di richiamo a valore nominale).
  • Condizioni dell’offerta: Vendute al 100% del valore nominale con una commissione di vendita del 3,150%; taglio minimo $1.000; registrazione elettronica tramite DTC; data di negoziazione 14/07/2025, regolamento 17/07/2025.
  • Tutele per gli investitori: L’opzione per i superstiti consente agli eredi di cedere le obbligazioni all’emittente al valore nominale.
  • Classifica: Obbligazioni subordinate, junior rispetto al debito senior e senior rispetto al capitale proprio.

I proventi netti (importo non divulgato) aumenteranno il debito a lungo termine a tasso fisso di NRUC, fissando i costi di finanziamento ma incrementando gli oneri per interessi. Nel documento non sono incluse né le informazioni finanziarie né la dimensione complessiva dell’emissione.

National Rural Utilities Cooperative Finance Corporation (NRUC) ha presentado un suplemento preliminar de precios para nuevas notas subordinadas con interés diferible (CUSIP 63743LAY9).

  • ܱó: 5,750% fijo, pagadero semestralmente; primer pago el 15/01/2026 ($28,43 por $1,000).
  • Vencimiento: 15/07/2055 (plazo de 30 años).
  • Գó: Rescatable a opción del emisor al valor nominal más intereses devengados a partir del 15/07/2030 (Período de llamada al valor nominal).
  • Términos de la oferta: Vendidas al 100% del valor nominal con una concesión de venta del 3,150%; denominación mínima $1,000; anotación en cuenta a través de DTC; fecha de negociación 14/07/2025, liquidación 17/07/2025.
  • Protecciones para inversores: La opción para sobrevivientes permite a los herederos devolver las notas al emisor al valor nominal.
  • ھó: Notas subordinadas, junior respecto a la deuda senior y senior respecto al capital.

Los ingresos netos (cantidad no revelada) aumentarán la deuda a largo plazo y tasa fija de NRUC, asegurando los costos de financiamiento pero aumentando el gasto por intereses. No se incluyen estados financieros ni el tamaño total de la emisión en este documento.

National Rural Utilities Cooperative Finance Corporation (NRUC)가 새로� 후순� 이연 이자 채권 (CUSIP 63743LAY9)� 대� 예비 가� 보충서를 제출했습니다.

  • 쿠폰: � 5.750% 고정, 반기� 지�; � 지급일 2026� 1� 15� ($1,000� $28.43).
  • 만기: 2055� 7� 15� (30� 만기).
  • : 발행자의 선택� 따라 2030� 7� 15� 이후 원금 � 미지� 이자� 포함하여 상환 가� (원금 상환 기간).
  • 공모 조건: 액면가 100%� 판매 수수� 3.150%; 최소 액면가 $1,000; DTC� 통한 전자 등록; 거래� 2025� 7� 14�, 결제� 2025� 7� 17�.
  • 투자� 보호: 생존� 옵션으로 상속인이 채권� 발행자에� 원금으로 되팔 � 있음.
  • 숵Ӝ: 후순� 채권으로 선순� 부채보� 하위, 자본보다� 상위.

순수�(금액 미공�)은 NRUC� 장기 고정금리 부채를 증가시켜 자금 조달 비용� 고정하지� 이자 비용� 증가시킵니다. � 서류에는 재무제표� � 발행 규모가 포함되어 있지 않습니다.

National Rural Utilities Cooperative Finance Corporation (NRUC) a déposé un supplément préliminaire de prix pour de nouvelles obligations subordonnées à intérêt différé (CUSIP 63743LAY9).

  • Coupon : 5,750 % fixe, payé semestriellement ; premier paiement le 15/01/2026 (28,43 $ pour 1 000 $).
  • Échéance : 15/07/2055 (durée de 30 ans).
  • Rachat : Rachetable à l’option de l’émetteur à la valeur nominale plus intérêts courus à partir du 15/07/2030 (période d’appel au pair).
  • Conditions de l’offre : Vendues à 100 % de la valeur nominale avec une commission de vente de 3,150 % ; montant minimum 1 000 $ ; inscription en compte via DTC ; date de transaction 14/07/2025, règlement 17/07/2025.
  • Protections pour les investisseurs : L’option survivant permet aux héritiers de remettre les obligations à l’émetteur à la valeur nominale.
  • Classement : Obligations subordonnées, junior à la dette senior et senior aux fonds propres.

Le produit net (montant non divulgué) augmentera la dette à long terme à taux fixe de NRUC, verrouillant les coûts de financement mais augmentant les charges d’intérêts. Aucun état financier ni taille totale de l’émission n’est inclus dans ce dépôt.

National Rural Utilities Cooperative Finance Corporation (NRUC) hat einen vorläufigen Preiszusatz für neue nachrangige, aufschiebbare Zinsanleihen (CUSIP 63743LAY9) eingereicht.

  • Kupon: 5,750% fest, halbjährliche Zahlung; erste Zahlung am 15.01.2026 (28,43 $ pro 1.000 $).
  • ä𾱳: 15.07.2055 (30 Jahre Laufzeit).
  • üܲԲ: Kündbar nach Wahl des Emittenten zum Nennwert zuzüglich aufgelaufener Zinsen ab dem 15.07.2030 (Nennwert-Kündigungsperiode).
  • Angebotsbedingungen: Verkauf zu 100% des Nennwerts mit einem Verkaufsaufschlag von 3,150%; Mindeststückelung 1.000 $; Buchung über DTC; Handelstag 14.07.2025, Abwicklung 17.07.2025.
  • Anlegerschutz: Die Überlebendenoption erlaubt Erben, die Anleihen zum Nennwert an den Emittenten zurückzugeben.
  • Rangfolge: Nachrangige Anleihen, nachrangig gegenüber vorrangigen Schulden und vorrangig gegenüber Eigenkapital.

Der Nettoerlös (nicht offengelegter Betrag) wird die langfristigen, festverzinslichen Schulden der NRUC erhöhen, die Finanzierungskosten sichern, aber die Zinsaufwendungen steigern. Finanzberichte oder die Gesamtemissionsgröße sind in dieser Einreichung nicht enthalten.

Positive
  • Locks in long-term funding at 5.75% fixed for 30 years, providing rate certainty in a volatile environment.
  • Survivor’s option enhances retail investor appeal and may broaden demand.
Negative
  • Subordinated ranking increases credit risk and cost of capital versus senior debt.
  • Gross concession of 3.15% reduces net proceeds and reflects relatively high issuance costs.

Insights

TL;DR Routine capital-raising: 5.75% subordinated notes, 30-year maturity, callable 2030; credit impact modest without size disclosure.

Assessment: Subordinated debt provides long-dated capital at a predictable cost, useful for a cooperative finance issuer whose funding needs span decades. The 5.75% coupon is in line with contemporary BBB-level hybrid debt, suggesting the market views NRUC’s credit risk as moderate. A par call after five years offers the company optionality to refinance if rates decline.

Because the notes rank below senior obligations, they may qualify as a regulatory capital buffer but raise leverage and future interest expense. Absence of the total principal amount limits judgment on materiality; however, the structure (deferrable interest, survivor’s option) indicates investor-friendly features typical of retail-targeted hybrid securities. Overall, neutral credit impact pending disclosure of issuance size.

National Rural Utilities Cooperative Finance Corporation (NRUC) ha presentato un supplemento preliminare per la quotazione di nuove obbligazioni subordinate a interesse differibile (CUSIP 63743LAY9).

  • Coupon: 5,750% fisso, pagato semestralmente; primo pagamento il 15/01/2026 ($28,43 per $1.000).
  • Scadenza: 15/07/2055 (durata di 30 anni).
  • Rimborso: Rimborsabile a scelta dell’emittente a valore nominale più interessi maturati a partire dal 15/07/2030 (Periodo di richiamo a valore nominale).
  • Condizioni dell’offerta: Vendute al 100% del valore nominale con una commissione di vendita del 3,150%; taglio minimo $1.000; registrazione elettronica tramite DTC; data di negoziazione 14/07/2025, regolamento 17/07/2025.
  • Tutele per gli investitori: L’opzione per i superstiti consente agli eredi di cedere le obbligazioni all’emittente al valore nominale.
  • Classifica: Obbligazioni subordinate, junior rispetto al debito senior e senior rispetto al capitale proprio.

I proventi netti (importo non divulgato) aumenteranno il debito a lungo termine a tasso fisso di NRUC, fissando i costi di finanziamento ma incrementando gli oneri per interessi. Nel documento non sono incluse né le informazioni finanziarie né la dimensione complessiva dell’emissione.

National Rural Utilities Cooperative Finance Corporation (NRUC) ha presentado un suplemento preliminar de precios para nuevas notas subordinadas con interés diferible (CUSIP 63743LAY9).

  • ܱó: 5,750% fijo, pagadero semestralmente; primer pago el 15/01/2026 ($28,43 por $1,000).
  • Vencimiento: 15/07/2055 (plazo de 30 años).
  • Գó: Rescatable a opción del emisor al valor nominal más intereses devengados a partir del 15/07/2030 (Período de llamada al valor nominal).
  • Términos de la oferta: Vendidas al 100% del valor nominal con una concesión de venta del 3,150%; denominación mínima $1,000; anotación en cuenta a través de DTC; fecha de negociación 14/07/2025, liquidación 17/07/2025.
  • Protecciones para inversores: La opción para sobrevivientes permite a los herederos devolver las notas al emisor al valor nominal.
  • ھó: Notas subordinadas, junior respecto a la deuda senior y senior respecto al capital.

Los ingresos netos (cantidad no revelada) aumentarán la deuda a largo plazo y tasa fija de NRUC, asegurando los costos de financiamiento pero aumentando el gasto por intereses. No se incluyen estados financieros ni el tamaño total de la emisión en este documento.

National Rural Utilities Cooperative Finance Corporation (NRUC)가 새로� 후순� 이연 이자 채권 (CUSIP 63743LAY9)� 대� 예비 가� 보충서를 제출했습니다.

  • 쿠폰: � 5.750% 고정, 반기� 지�; � 지급일 2026� 1� 15� ($1,000� $28.43).
  • 만기: 2055� 7� 15� (30� 만기).
  • : 발행자의 선택� 따라 2030� 7� 15� 이후 원금 � 미지� 이자� 포함하여 상환 가� (원금 상환 기간).
  • 공모 조건: 액면가 100%� 판매 수수� 3.150%; 최소 액면가 $1,000; DTC� 통한 전자 등록; 거래� 2025� 7� 14�, 결제� 2025� 7� 17�.
  • 투자� 보호: 생존� 옵션으로 상속인이 채권� 발행자에� 원금으로 되팔 � 있음.
  • 숵Ӝ: 후순� 채권으로 선순� 부채보� 하위, 자본보다� 상위.

순수�(금액 미공�)은 NRUC� 장기 고정금리 부채를 증가시켜 자금 조달 비용� 고정하지� 이자 비용� 증가시킵니다. � 서류에는 재무제표� � 발행 규모가 포함되어 있지 않습니다.

National Rural Utilities Cooperative Finance Corporation (NRUC) a déposé un supplément préliminaire de prix pour de nouvelles obligations subordonnées à intérêt différé (CUSIP 63743LAY9).

  • Coupon : 5,750 % fixe, payé semestriellement ; premier paiement le 15/01/2026 (28,43 $ pour 1 000 $).
  • Échéance : 15/07/2055 (durée de 30 ans).
  • Rachat : Rachetable à l’option de l’émetteur à la valeur nominale plus intérêts courus à partir du 15/07/2030 (période d’appel au pair).
  • Conditions de l’offre : Vendues à 100 % de la valeur nominale avec une commission de vente de 3,150 % ; montant minimum 1 000 $ ; inscription en compte via DTC ; date de transaction 14/07/2025, règlement 17/07/2025.
  • Protections pour les investisseurs : L’option survivant permet aux héritiers de remettre les obligations à l’émetteur à la valeur nominale.
  • Classement : Obligations subordonnées, junior à la dette senior et senior aux fonds propres.

Le produit net (montant non divulgué) augmentera la dette à long terme à taux fixe de NRUC, verrouillant les coûts de financement mais augmentant les charges d’intérêts. Aucun état financier ni taille totale de l’émission n’est inclus dans ce dépôt.

National Rural Utilities Cooperative Finance Corporation (NRUC) hat einen vorläufigen Preiszusatz für neue nachrangige, aufschiebbare Zinsanleihen (CUSIP 63743LAY9) eingereicht.

  • Kupon: 5,750% fest, halbjährliche Zahlung; erste Zahlung am 15.01.2026 (28,43 $ pro 1.000 $).
  • ä𾱳: 15.07.2055 (30 Jahre Laufzeit).
  • üܲԲ: Kündbar nach Wahl des Emittenten zum Nennwert zuzüglich aufgelaufener Zinsen ab dem 15.07.2030 (Nennwert-Kündigungsperiode).
  • Angebotsbedingungen: Verkauf zu 100% des Nennwerts mit einem Verkaufsaufschlag von 3,150%; Mindeststückelung 1.000 $; Buchung über DTC; Handelstag 14.07.2025, Abwicklung 17.07.2025.
  • Anlegerschutz: Die Überlebendenoption erlaubt Erben, die Anleihen zum Nennwert an den Emittenten zurückzugeben.
  • Rangfolge: Nachrangige Anleihen, nachrangig gegenüber vorrangigen Schulden und vorrangig gegenüber Eigenkapital.

Der Nettoerlös (nicht offengelegter Betrag) wird die langfristigen, festverzinslichen Schulden der NRUC erhöhen, die Finanzierungskosten sichern, aber die Zinsaufwendungen steigern. Finanzberichte oder die Gesamtemissionsgröße sind in dieser Einreichung nicht enthalten.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Gorgas Gregory D.

(Last) (First) (Middle)
888 PROSPECT
SUITE 210

(Street)
LA JOLLA CA 92037

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ARTELO BIOSCIENCES, INC. [ ARTL ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
President, CEO, CFO, Treasurer
3. Date of Earliest Transaction (Month/Day/Year)
07/02/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $11.03 07/02/2025 A 20,393 (1) 07/02/2035 Common Stock 20,393 $0 20,393 D
Stock Option (right to buy) $11.03 07/02/2025 A 20,000 (2) 07/02/2035 Common Stock 20,000 $0 20,000 D
Explanation of Responses:
1. (1) Subject to the Reporting Person continuing to be a Service Provider (as such term is defined in the Issuer's 2018 Equity Incentive Plan) through each such applicable vesting date, one forty-eighth (1/48th) of the shares subject to the option shall vest each month following the Vesting Commencement Date on the same day of the month as the Vesting Commencement Date, such that the option shall be fully vested on the four (4) year anniversary of the Vesting Commencement Date. Vesting Commencement Date shall mean January 1, 2025.
2. (2) Subject to the Reporting Person continuing to be a Service Provider (as such term is defined in the Issuer's 2018 Equity Incentive Plan) through each such applicable vesting date, fifty percent (50%) of the shares subject to the option shall vest January 1, 2026 and the remaining fifty percent (50%) of the shares subject to the option shall vest January 1, 2027.
/s/ Gregory D. Gorgas 07/07/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What coupon rate do NRUC's new subordinated notes pay?

The notes carry a 5.750% fixed coupon, paid semi-annually.

When can NRUC call the 5.75% notes?

NRUC may redeem the notes at par on or after 07/15/2030.

What is the maturity date of the NRUC subordinated notes?

The notes mature on 07/15/2055.

What is the minimum investment for the NRUC notes?

The minimum denomination is $1,000, with $1,000 increments.

Do the notes include a survivor’s option for heirs?

Yes, heirs can exercise a survivor’s option to redeem the notes at par.
Artelo Biosciences Inc

NASDAQ:ARTL

ARTL Rankings

ARTL Latest News

ARTL Latest SEC Filings

ARTL Stock Data

5.19M
542.21k
0.82%
1.05%
0.04%
Biotechnology
Pharmaceutical Preparations
United States
SOLANA BEACH