Private Placement Announcement
Silo Pharma Inc. (NASDAQ:SILO) disclosed definitive agreements to raise up to $11.7 million through an at‑the‑market private placement under Nasdaq rules. The company will issue 619,965 shares of common stock together with Series A‑3 and Series A‑4 warrants, each warrant granting the right to purchase up to 619,965 shares.
Pricing and Proceeds
The purchase price for the common shares and the associated warrants is $6.452 per share. The warrants carry an exercise price of $6.21 per share and are exercisable immediately upon issuance. The offering is expected to generate approximately $4 million in gross proceeds before placement‑agent fees and other expenses, with a potential additional $7.7 million if the warrants are fully exercised on a cash basis; no assurance is provided that the warrants will be exercised.
Warrant Terms
Series A‑3 warrants will expire five years after the effective date of the Resale Registration Statement, while the short‑term Series A‑4 warrants will expire eighteen months after that date.
Placement Agent and Timing
H.C. Wainwright & Co. is acting as the exclusive placement agent. The transaction is slated to close on or about July 10, 2026, subject to customary closing conditions.
Use of Proceeds
Silo Pharma intends to apply the net proceeds to working capital and general corporate purposes, supporting its development programs for stress‑induced psychiatric disorders, chronic pain, and central nervous system diseases.
Market Reaction
Following the announcement, Silo Pharma’s shares fell 22 % on the day of the news.