Silo Pharma prices 2.86M shares at 87.5c in registered direct offering

Silo Pharma (SILO) 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. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from the offering are expected to be approximately $2.5M 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.