InvestmentJul 13, 2026, 06:16 AM
Silo Pharma Announces $4M Private Placement, up to $7.7M Warrants
AI Summary
Silo Pharma, Inc. announced a private placement that closed on July 10, 2026, generating approximately $4 million in gross proceeds. The placement involved the issuance of 619,965 shares of common stock (or pre-funded warrants) and associated Series A-3 and Series A-4 warrants. The company could receive an additional $7.7 million if all warrants are fully exercised for cash. Net proceeds, estimated at $3.5 million after deducting fees and expenses, will be allocated to working capital and general corporate purposes.
Key Highlights
- Gross proceeds of approximately $4 million from the private placement.
- Potential additional gross proceeds of approximately $7.7 million from full warrant exercise.
- Issuance of 619,965 shares of common stock or pre-funded warrants.
- Purchase price of $6.452 per share or pre-funded warrant.
- Warrants have an exercise price of $6.21 per share.
- Net proceeds of approximately $3.5 million after fees and expenses.
- Proceeds to be used for working capital and general corporate purposes.
- Placement agent received 7.5% cash fee plus 1.0% management fee.
Price Impact
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