Silo Pharma Closes $2 Million Public Offering with Warrants
Silo Pharma Closes $2 Million Public Offering with Warrants

Silo Pharma Closes $2 Million Public Offering with Warrants

News summary

Silo Pharma, Inc., a developmental stage biopharmaceutical company, has priced a public offering of 3,333,338 shares of common stock or pre-funded warrants, along with series A-1 and A-2 warrants to purchase an equal number of shares at $0.60 per share. The series A-1 warrants are exercisable immediately with a five-year expiration, while the series A-2 warrants also exercisable immediately, expire in eighteen months. H.C. Wainwright & Co. is the exclusive placement agent for the offering, which is expected to close around May 16, 2025, subject to customary closing conditions. The gross proceeds from the offering are anticipated to be approximately $2 million before fees and expenses, with net proceeds designated for general working capital. Silo Pharma is focused on novel therapeutics and drug delivery systems targeting conditions such as PTSD, chronic pain, and central nervous system diseases, and collaborates with leading universities and laboratories. The company’s stock is currently trading below its estimated fair value, with an average analyst price target significantly higher than the current trading price.

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