333-261532) relating to the public offering of the shares of common stock described above was previously filed with the Securities and Exchange Commission (“SEC”) and declared effective on September 15, 2022. is acting as sole book-running manager for the offering.Ī registration statement on Form S-1 (File No. The offering is expected to close on or about September 29, 2022, subject to customary closing conditions. In addition, the Company has granted a 45-day option to the underwriter to purchase up to an additional 150,000 shares of common stock at the public offering price, less the underwriting discount, to cover over-allotments, if any. A portion of the proceeds may also be used for acquisitions of complementary businesses, technologies, or other assets.Īs a result of the offering, the Company’s common stock will become listed on the Nasdaq Capital Market and will trade under the ticker symbol “SILO” beginning September 27, 2022. Silo Pharma intends to use the net proceeds from the offering for product development, marketing, and working capital and general corporate purposes. The gross proceeds to Silo Pharma from this offering are expected to be $5,000,000, before deducting the underwriting discount and other estimated offering expenses payable by Silo Pharma. (Nasdaq: SILO) (formerly OTCQB: SILO), a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research, today announced pricing of an underwritten public offering of 1,000,000 shares of its common stock at a price to the public of $5.00 per share. 27, 2022 (GLOBE NEWSWIRE) - Silo Pharma, Inc.
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