Silo Pharma Announces $2 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
SARASOTA, FL, June 05, 2024 (GLOBE NEWSWIRE) — Silo Pharma, Inc. (Nasdaq:SILO) (“Silo” or the “Company”), a developmental stage biopharmaceutical company focused on developing novel formulations and drug delivery systems for traditional therapeutics and psychedelic treatments, today announced that it has entered into definitive agreements for the purchase and sale of 917,432 shares of common stock (or common stock equivalents in lieu thereof) at a purchase price of $2.18 per share (or per common stock equivalent in lieu thereof) in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company will issue unregistered warrants to purchase up to 917,432 shares of common stock at an exercise price of $2.06 per share that will be immediately exercisable upon issuance and will expire five years following the date of issuance. The closing of the offering is expected to occur on or about June 6, 2024, subject to the satisfaction of customary closing conditions.