Silo Pharma prices 3.3M shares at 60c in public offering

Silo Pharma (SILO) announced the pricing of a public offering of 3,333,338 shares of common stock, together with series A-1 warrants to purchase up to 3,333,338 shares of common stock and 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 and associated Series A-1 Warrant and Series A-2 Warrant. The Series A-1 Warrants will have an exercise price of $0.60 per share, are exercisable upon issuance and will expire five years thereafter. The Series A-2 Warrants will have an exercise price of $0.60 per share, are exercisable upon issuance and will expire eighteen months thereafter. The closing of the offering is expected to occur on or about May 16, 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 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