NetworkNewsBreaks – Silo Pharma Inc. (NASDAQ: SI
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Posted On: 09/27/2022 5:08:25 PM
NetworkNewsBreaks – Silo Pharma Inc. (NASDAQ: SILO) Announces Uplisting to Nasdaq Capital Market, Pricing of $5M Public Offering
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. Silo Pharma expects $5,000,000 in gross proceeds from the offering and intends to use the net proceeds for product development, marketing, working capital and general corporate purposes. In addition, a portion of the proceeds may also be used for acquisitions of complementary businesses, technologies or other assets. As a result of the offering, the company’s common stock commenced listing on the Nasdaq Capital Market on Sept. 27, 2022, trading under the ticker symbol SILO. The offering is expected to close on or about Sept. 29, 2022, subject to customary conditions. The company has also 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. Laidlaw & Company (U.K.) Ltd. is acting as sole book-running manager for the offering.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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. Silo Pharma expects $5,000,000 in gross proceeds from the offering and intends to use the net proceeds for product development, marketing, working capital and general corporate purposes. In addition, a portion of the proceeds may also be used for acquisitions of complementary businesses, technologies or other assets. As a result of the offering, the company’s common stock commenced listing on the Nasdaq Capital Market on Sept. 27, 2022, trading under the ticker symbol SILO. The offering is expected to close on or about Sept. 29, 2022, subject to customary conditions. The company has also 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. Laidlaw & Company (U.K.) Ltd. is acting as sole book-running manager for the offering.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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