other material
confidence high
sentiment neutral
materiality 0.70
Silo Pharma closes $2M public offering of common stock and warrants
Silo Pharma, Inc.
- Offered 3,333,338 shares (or pre-funded warrants) plus Series A-1 and A-2 warrants for up to 3,333,338 shares each.
- Combined price $0.60/unit; gross proceeds ~$2M, net ~$1.56M after fees and expenses.
- Series A-1 warrants exercise price $0.60, expire 5 years; Series A-2 warrants $0.60, expire 18 months from issuance.
- H.C. Wainwright exclusive placement agent; received 7.5% cash fee, 1% management fee, and 250,000 warrants at $0.75.
- Net proceeds to be used for working capital and general corporate purposes.