Business
Silo Pharma Announces Closing of $2 Million Public Offering
SARASOTA, FL, May 16, 2025 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (Nasdaq: SILO) (“Silo...
About this update from Silo Wellness Inc
[{"type":"text","content":"Silo Pharma Announces Closing of $2 Million Public Offering\n\n\n\n SARASOTA, FL, May 16, 2025 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (Nasdaq: SILO) (“Silo” or the “Company”), a developmental stage biopharmaceutical company focused on novel therapeutics and drug delivery systems, closed on the previously announced public offering of 3,333,338 shares of common stock (or pre-funded warrants in lieu thereof), together with series A-1 warrants (“Series A-1 Warrants”) to purchase up to 3,333,338 shares of common stock and series A-2 warrants (“Series A-2 Warrants”) to purchase up to 3,333,338 shares of common stock at a combined public offering price of $0.60 per share (or pre-funded warrant in lieu thereof) and associated Series A-1 Warrant and Series A-2 Warrant. The Series A-1 Warrants have an exercise price of $0.60 per share, are exercisable upon issuance and expire five years thereafter. The Series A-2 Warrants have an exercise price of $0.60 per share, are exercisable upon issuance and expire eighteen months thereafter.\n \n\n H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.\n \n\n The gross proceeds to the Company from the offering were approximately $2 million, before deducting the placement agent’s fees and other offering expenses payable by the Company.  The Company intends to use the net proceeds from this offering for general working capital purposes.\n \n\n A registration statement on Form S-1 (File No. 333-286777) relating to the securities described above has been filed with the Securities and Exchange Commission, or the SEC, and was declared effective by the SEC on May 15, 2025. The offering will be made only by means of a prospectus, which is part of the effective registration statement. A final prospectus relating to the offering has been filed with the SEC on May 16, 2025. Electronic copies of the final prospectus may be obtained for free on the SEC’s website located at\n \n http://www.sec.gov\n \n and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at\n \n [email protected]\n \n .\n \n\n This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securiti...