Silo pharma announces closing of $2 million registered direct offering priced at-the-market under nasdaq rules

Sarasota, fl, june 06, 2024 (globe newswire) -- sarasota, fl, june 6, 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 the closing of its previously announced registered direct offering priced at-the-market under nasdaq rules 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 concurrent private placement, the company issued unregistered warrants to purchase up to 917,432 shares of common stock at an exercise price of $2.06 per share that are immediately exercisable upon issuance and will expire five years following the date of issuance.
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