Silo Pharma (NASDAQ: SILO) has priced a public offering of approximately 3.33 million shares of common stock (or pre-funded warrants) along with Series A-1 and Series A-2 warrants, all priced at $0.60 per unit. The Series A-1 and A-2 warrants are immediately exercisable at $0.60 per share, with expirations set at five years and eighteen months, respectively. Gross proceeds are expected to total roughly $2 million before fees and expenses. H.C. Wainwright & Co. is acting as the exclusive placement agent, and proceeds will support general working capital.
To view the full press release, visit https://ibn.fm/l208j
About Silo Pharma Inc.
Silo Pharma is a developmental-stage biopharmaceutical company developing novel therapeutics that address underserved conditions including stress-induced psychiatric disorders, chronic pain conditions and central nervous system (“CNS”) diseases. Silo focuses on developing traditional therapies and psychedelic treatments in novel formulations and drug-delivery systems. The company’s lead program, SPC-15, is an intranasal treatment targeting post-traumatic stress disorder (“PTSD”) and stress-induced anxiety disorders. SP-26 is a time-release, ketamine-loaded implant for fibromyalgia and chronic pain relief. Silo’s two preclinical programs are SPC-14, an intranasal compound for the treatment of Alzheimer’s disease, and SPU-16, a CNS-homing peptide targeting multiple sclerosis (“MS”). Silo’s research and development programs are conducted through collaborations with universities and independent laboratories. For more information about the company, visit www.SiloPharma.com.
NOTE TO INVESTORS: The latest news and updates relating to SILO are available in the company’s newsroom at https://ibn.fm/SILO
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