Silo Pharma Announces Closing of $2.5 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

Core Points - Silo Pharma, Inc. has completed a registered direct offering of 2,857,143 shares of common stock at a price of $0.875 per share, raising approximately $2.5 million in gross proceeds [1][2] - In addition to the stock offering, the company issued unregistered warrants for the purchase of an equal number of shares at an exercise price of $0.75, which are immediately exercisable and will expire in five years [1][2] - The proceeds from the offering will be used for working capital and general corporate purposes [2] Company Overview - Silo Pharma is a developmental-stage biopharmaceutical company focused on novel formulations and drug delivery systems for traditional therapeutics and psychedelic treatments [1] - The company targets underserved conditions such as stress-induced psychiatric disorders, chronic pain, and central nervous system diseases, with programs including SPC-15 for PTSD and SP-26 for fibromyalgia [6] - Silo Pharma conducts research in collaboration with leading universities and laboratories [6]