Business
Silo Pharma Announces $2.5 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
SARASOTA, FL, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (Nasdaq: SILO) (“Silo&#...
About this update from Silo Wellness Inc
[{"type":"text","content":"Silo Pharma Announces $2.5 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules\n\n\n\n SARASOTA, FL, Sept. 30, 2025 (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 2,857,143 shares of common stock at a purchase price of $0.875 per share 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 2,857,143 shares of common stock at an exercise price of $0.75 per share that will be immediately exercisable upon issuance and will expire five years from the effective date of a registration statement registering for resale the shares of common stock underlying the warrants. The closing of the offering is expected to occur on or about October 1, 2025, subject to the satisfaction of customary closing conditions.\n \n\n H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.\n \n\n The gross proceeds to the Company from the offering are expected to be approximately $2.5 million before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.\n \n\n The common stock (but not the unregistered warrants and the shares of common stock underlying the unregistered warrants) described above are being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-276658) that was declared effective by the Securities and Exchange Commission (the “SEC”) on January 30, 2024. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtaine...