NetworkNewsBreaks – Silo Pharma Inc. (NASDAQ: SI
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Posted On: 09/30/2022 3:20:04 PM
NetworkNewsBreaks – Silo Pharma Inc. (NASDAQ: SILO) Secures $5.75M in Underwritten Public Offering
Silo Pharma (NASDAQ: SILO) (formerly OTCQB: SILO) is a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research. The company today announced the closing of its underwritten public offering of 1,150,000 shares of its common stock, which included the full exercise of the underwriters’ over-allotment option to purchase 150,000 additional shares of common stock, each at a public offering price of $5.00. Silo Pharma’s common stock began trading on the Nasdaq Capital Market on Sept. 27, 2022, under the symbol SILO. The company secured $5,750,000 million in gross proceeds from the offering, before deducting underwriting discounts and commissions and other expenses. Silo Pharma intends to use the net proceeds for product development, marketing, working capital and general corporate purposes. In addition, a portion of the proceeds may be used for acquisitions of complementary businesses, technologies or other assets. Laidlaw & Company (U.K.) Ltd. acted 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) is a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research. The company today announced the closing of its underwritten public offering of 1,150,000 shares of its common stock, which included the full exercise of the underwriters’ over-allotment option to purchase 150,000 additional shares of common stock, each at a public offering price of $5.00. Silo Pharma’s common stock began trading on the Nasdaq Capital Market on Sept. 27, 2022, under the symbol SILO. The company secured $5,750,000 million in gross proceeds from the offering, before deducting underwriting discounts and commissions and other expenses. Silo Pharma intends to use the net proceeds for product development, marketing, working capital and general corporate purposes. In addition, a portion of the proceeds may be used for acquisitions of complementary businesses, technologies or other assets. Laidlaw & Company (U.K.) Ltd. acted 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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