SARASOTA, FL, July 22, 2024 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (Nasdaq: SILO) (“Silo” or the “Company”), a developmental stage biopharmaceutical company focused on developing novel formulations and drug delivery systems for traditional therapeutics and psychedelic treatments, today announced the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules for the purchase and sale of 763,638 shares of common stock at a purchase price of $2.75 per share. In a concurrent private placement, the Company issued unregistered warrants to purchase up to 763,638 shares of common stock at an exercise price of $2.75 per share that are immediately exercisable upon issuance and will expire five years following the date of issuance.

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Silo Pharma Announces Closing of $2.1 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules